Yes, SHRIMPS is a Scrabble word!

Letter values in Scrabble US: S 1, H 4, R 1, I 1, M 3, P 3, S 1.

Is it a valid word?

SHRIMPS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

disparaging terms for small people
any of various edible decapod crustaceans
small slender-bodied chiefly marine decapod crustaceans with a long tail and single pair of pincers; many species are edible

Also: half-pint.