[uhn-der-shoot, uhn-der-shoot]
verb (used with object), undershot, undershooting.
to shoot or launch a projectile that strikes under or short of (a target).
Aeronautics. (of an aircraft or pilot) to land before reaching (a landing strip) because of a too rapid loss of altitude.
verb (used without object), undershot, undershooting.
to shoot or launch a projectile so as to strike under or short of a target.

1655–65; under- + shoot

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World English Dictionary
undershoot (ˌʌndəˈʃuːt)
vb , -shoots, -shooting, -shot
1.  (of a pilot) to cause (an aircraft) to land short of (a runway) or (of an aircraft) to land in this way
2.  to shoot a projectile so that it falls short of (a target)

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1661, "to shoot too low," from under + shoot (v.). In ref. to aircraft or pilots, recorded from 1918. Undershot as a type of water wheel is recorded from 1610.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Medical Dictionary

undershoot un·der·shoot (ŭn'dər-shōōt')
A temporary decrease below the final steady-state value that may occur immediately following the removal of an influence that had been raising that value.

The American Heritage® Stedman's Medical Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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Example sentences
Moreover, history shows that after a boom prices usually undershoot their fair value.
The next step in the chain of reasoning is to determine whether it's costlier to overshoot or undershoot.
After a big overshoot on the upside, share prices can undershoot by as much on the way down.
Typically, a currency needs to undershoot its fair value by a wide margin in order to reduce a country's large external deficit.
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