Smith Douglas Homes (NYSE:SDHC) Trading Down 8.8% – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) dropped 8.8% on Wednesday . The company traded as low as $12.25 and last traded at $12.25. Approximately 146,252 shares changed hands during mid-day trading, an increase of 87% from the average daily volume of 78,157 shares. The stock had previously closed at $13.43.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Thursday, January 22nd. BTIG Research assumed coverage on shares of Smith Douglas Homes in a report on Monday, December 1st. They set a “neutral” rating for the company. Zacks Research downgraded Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price target on shares of Smith Douglas Homes in a research note on Friday, November 21st. Finally, UBS Group reiterated a “positive” rating on shares of Smith Douglas Homes in a research note on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $16.60.

Smith Douglas Homes Trading Down 10.1%

The firm has a market cap of $621.00 million, a PE ratio of 9.66 and a beta of 1.04. The company has a 50 day moving average price of $17.80 and a 200 day moving average price of $18.16.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SDHC. State Street Corp increased its stake in Smith Douglas Homes by 2.7% during the fourth quarter. State Street Corp now owns 42,312 shares of the company’s stock worth $710,000 after acquiring an additional 1,100 shares during the last quarter. Geode Capital Management LLC grew its stake in Smith Douglas Homes by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 104,422 shares of the company’s stock valued at $1,752,000 after purchasing an additional 1,406 shares in the last quarter. First Trust Advisors LP increased its position in shares of Smith Douglas Homes by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock worth $564,000 after purchasing an additional 1,583 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Smith Douglas Homes in the 2nd quarter valued at approximately $34,000. Finally, Beck Mack & Oliver LLC lifted its holdings in Smith Douglas Homes by 0.4% in the fourth quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company’s stock worth $13,692,000 after acquiring an additional 3,605 shares during the last quarter.

About Smith Douglas Homes

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. was founded in 2008 and is headquartered in Woodstock, Georgia.