Smith Douglas Homes Corp. (NYSE:SDHC) Short Interest Update

Smith Douglas Homes Corp. (NYSE:SDHC) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 364,800 shares, a decline of 24.6% from the January 31st total of 483,900 shares. Currently, 4.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 98,600 shares, the short-interest ratio is currently 3.7 days.

Smith Douglas Homes Trading Down 0.2 %

Smith Douglas Homes stock traded down $0.05 during mid-day trading on Tuesday, hitting $20.90. The company’s stock had a trading volume of 155,056 shares, compared to its average volume of 117,465. Smith Douglas Homes has a 1 year low of $19.52 and a 1 year high of $39.50. The stock’s fifty day moving average is $23.84 and its two-hundred day moving average is $30.76.

Analysts Set New Price Targets

SDHC has been the subject of several research reports. Bank of America lowered Smith Douglas Homes from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. dropped their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price target on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, Smith Douglas Homes currently has a consensus rating of “Hold” and an average target price of $25.40.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI purchased a new position in Smith Douglas Homes in the fourth quarter worth approximately $27,000. Quantbot Technologies LP grew its position in Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after acquiring an additional 2,738 shares during the period. Atria Investments Inc purchased a new position in Smith Douglas Homes in the third quarter worth approximately $204,000. XTX Topco Ltd purchased a new position in Smith Douglas Homes in the third quarter worth approximately $246,000. Finally, Portside Wealth Group LLC purchased a new position in Smith Douglas Homes in the third quarter worth approximately $283,000.

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.