Microvast Holdings announces departure of chief financial officer
Mitchell B. Goldsteen, a director and ten percent owner of Shimmick Corp (EXCHANGE:SHIM), indirectly through GOHO, LLC, sold 35,709 shares of common stock between June 30 and July 2, 2025, for approximately $70,666. The transaction comes as the stock has shown significant momentum, with InvestingPro data showing a 28% return over the past week and a 31% gain over the last year.
The sales occurred in three separate transactions. On June 30, 1,700 shares were sold at an average price of $1.72, with prices ranging from $1.71 to $1.74. On July 1, 29,639 shares were sold at an average price of $1.99, with prices ranging from $1.66 to $2.21. On July 2, 4,470 shares were sold at an average price of $1.96, with prices ranging from $1.84 to $2.05. According to InvestingPro analysis, the stock typically trades with high price volatility, and current metrics suggest the company is undervalued based on its Fair Value assessment.
Following these transactions, Goldsteen indirectly owns 21,348,967 shares of Shimmick Corp through GOHO, LLC. The sales were executed pursuant to a Rule 10b5-1 sales plan adopted on August 20, 2024. For deeper insights into SHIM’s valuation and 14 additional key metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Shimmick Corporation reported its first-quarter 2025 earnings, which fell short of analysts’ expectations. The company posted an earnings per share (EPS) of -$0.22, missing the forecast of $0.11, while revenue reached $122 million, below the anticipated $176.8 million. Despite this, Shimmick noted improved gross margins and a reduced net loss compared to the previous year. The company also reaffirmed its full-year guidance, projecting a 10-15% revenue increase from its Chimich projects. In a strategic move to expand its market presence, Shimmick launched a new subsidiary, Axia Electric LLC, focusing on electrical and power distribution solutions. Axia Electric has already secured $42 million in recent contracts and will target various infrastructure sectors. Additionally, Shimmick held its 2025 Annual Meeting of Stockholders, electing six directors and ratifying Deloitte & Touche LLP as its independent auditor. These developments reflect Shimmick’s ongoing efforts to enhance its operational capabilities and market position.
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