Shimmick Co.’s (NASDAQ:SHIM) Lock-Up Period To Expire on May 13th

Shimmick’s (NASDAQ:SHIM) lock-up period is set to end on Monday, May 13th. Shimmick had issued 3,575,000 shares in its IPO on November 14th. The total size of the offering was $25,025,000 based on an initial share price of $7.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

Separately, Roth Mkm reduced their price target on Shimmick from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, April 1st.

Shimmick Trading Down 6.0 %

Shares of Shimmick stock opened at $3.61 on Friday. The business’s 50-day moving average price is $4.89. Shimmick has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95.

Shimmick (NASDAQ:SHIM) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.51). The company had revenue of $138.06 million for the quarter, compared to analyst estimates of $159.50 million. Equities research analysts anticipate that Shimmick will post -0.09 EPS for the current year.

Institutional Trading of Shimmick

A number of large investors have recently bought and sold shares of the business. Sanders Morris Harris LLC acquired a new stake in Shimmick in the first quarter worth $3,243,000. BNP Paribas Asset Management Holding S.A. acquired a new stake in shares of Shimmick in the 4th quarter valued at about $2,885,000. Pacific Ridge Capital Partners LLC bought a new stake in Shimmick in the 4th quarter valued at about $2,580,000. 1492 Capital Management LLC acquired a new position in Shimmick during the fourth quarter worth $1,997,000. Finally, Skylands Capital LLC acquired a new position in Shimmick during the 4th quarter valued at about $300,000. 6.94% of the stock is currently owned by institutional investors and hedge funds.

Shimmick Company Profile

Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, including dams, levees, flood control systems, pump stations, and coastal protection infrastructure; and mass transit, bridges, and military infrastructure projects.