US LNG exports surge but will buyers in China turn up?
Mitchell B. Goldsteen, a director and ten percent owner of Shimmick Corp (EXCHANGE:SHIM), sold 10,400 shares of common stock in a series of transactions between July 14 and July 16, 2025. The sales, executed under a pre-arranged Rule 10b5-1 trading plan, totaled approximately $20,969. The construction services company, currently valued at $70 million, has shown strong returns over the past three months despite challenging profitability metrics.
On July 14, Goldsteen sold 1,300 shares at a price of $1.99 per share. Followed by sales of 7,000 shares on July 15 and 2,100 shares on July 16, both at a weighted average price of $2.02. The price for these shares ranged from $2.00 to $2.06. According to InvestingPro analysis, Shimmick appears undervalued at current levels, though the company faces operational challenges with negative gross margins and weak financial health scores.
The shares are indirectly owned through GOHO, LLC, where Goldsteen serves as the sole managing member. Following these transactions, Goldsteen indirectly owns 21,322,480 shares of Shimmick Corp through GOHO, LLC. Investors can access detailed analysis and 12 additional ProTips about Shimmick’s financial outlook through InvestingPro’s comprehensive research reports.
In other recent news, Shimmick Corporation reported its Q1 2025 earnings, showing a significant miss on both EPS and revenue forecasts. The company posted an EPS of -$0.22, falling short of the expected $0.11, and revenue of $122 million, below the forecasted $176.8 million. Despite these results, Shimmick reaffirmed its full-year guidance, anticipating a 10-15% increase in revenue from Chimich projects and an overall gross margin of 9-12%. In another development, Shimmick announced the formation of Axia Electric LLC, a new subsidiary focusing on electrical and power distribution solutions, securing $42 million in recent electrical contract awards. Additionally, the company held its 2025 Annual Meeting of Stockholders, where six directors were elected, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending January 2, 2026. These developments reflect Shimmick’s strategic focus on expanding its market presence in infrastructure sectors while maintaining financial oversight.
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