Smith Douglas Homes (NYSE:SDHC) Trading Up 4.8% – Still a Buy?

Smith Douglas Homes Corp. (NYSE:SDHC) shot up 4.8% during mid-day trading on Thursday . The company traded as high as $21.99 and last traded at $21.95. 7,282 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 117,450 shares. The stock had previously closed at $20.95.

Analysts Set New Price Targets

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

Smith Douglas Homes Trading Up 4.2 %

The firm’s 50-day simple moving average is $23.70 and its 200 day simple moving average is $30.69.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI acquired a new position in shares of Smith Douglas Homes in the 4th quarter valued at approximately $27,000. Quantbot Technologies LP grew its holdings in Smith Douglas Homes by 287.0% in the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after buying an additional 2,738 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Smith Douglas Homes in the third quarter valued at about $204,000. Trexquant Investment LP acquired a new position in shares of Smith Douglas Homes in the fourth quarter valued at about $218,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in Smith Douglas Homes in the 4th quarter worth about $236,000.

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.