Smith Douglas Homes Corp. (NYSE:SDHC) Sees Significant Decline in Short Interest

Smith Douglas Homes Corp. (NYSE:SDHC) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 457,800 shares, a decrease of 18.3% from the December 31st total of 560,300 shares. Based on an average daily trading volume, of 89,700 shares, the days-to-cover ratio is currently 5.1 days. Approximately 5.4% of the shares of the company are short sold.

Smith Douglas Homes Price Performance

NYSE SDHC traded down $0.75 on Friday, hitting $24.33. The company had a trading volume of 93,330 shares, compared to its average volume of 91,131. Smith Douglas Homes has a 12-month low of $20.55 and a 12-month high of $39.50. The company’s fifty day moving average price is $27.90 and its 200-day moving average price is $32.07.

Insider Buying and Selling

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average cost of $29.77 per share, with a total value of $256,170.85. Following the acquisition, the director now directly owns 15,748 shares in the company, valued at $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Smith Douglas Homes

A number of large investors have recently modified their holdings of SDHC. Wasatch Advisors LP purchased a new stake in shares of Smith Douglas Homes during the third quarter worth $8,104,000. Seven Grand Managers LLC grew its holdings in shares of Smith Douglas Homes by 100.0% during the third quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after buying an additional 25,000 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Smith Douglas Homes by 260.2% during the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $783,000 after buying an additional 24,200 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Smith Douglas Homes by 1,551.9% during the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after buying an additional 20,051 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Smith Douglas Homes during the third quarter worth $591,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Wells Fargo & Company cut their price target on shares of Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Bank of America lowered shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $33.00 to $22.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Smith Douglas Homes presently has a consensus rating of “Hold” and a consensus target price of $25.40.

Smith Douglas Homes Company Profile

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.