Short Interest in Smith Douglas Homes Corp. (NYSE:SDHC) Grows By 18.7%

Smith Douglas Homes Corp. (NYSE:SDHC) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 516,800 shares, an increase of 18.7% from the November 30th total of 435,400 shares. Based on an average trading volume of 67,700 shares, the days-to-cover ratio is currently 7.6 days. Approximately 6.1% of the company’s shares are short sold.

Analysts Set New Price Targets

SDHC has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Bank of America boosted their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Wedbush reiterated a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their price target on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, Smith Douglas Homes has a consensus rating of “Hold” and a consensus price target of $32.20.

Insider Buying and Selling at Smith Douglas Homes

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at approximately $34,000. Quantbot Technologies LP raised its position in Smith Douglas Homes by 287.0% during 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 in the last quarter. Atria Investments Inc acquired a new stake in Smith Douglas Homes in the third quarter valued at $204,000. XTX Topco Ltd bought a new position in shares of Smith Douglas Homes in the 3rd quarter valued at about $246,000. Finally, Portside Wealth Group LLC acquired a new stake in Smith Douglas Homes in the 3rd quarter valued at about $283,000.

Smith Douglas Homes Trading Down 1.3 %

Shares of Smith Douglas Homes stock traded down $0.35 during trading hours on Tuesday, reaching $25.64. 302,847 shares of the company’s stock were exchanged, compared to its average volume of 131,805. The company has a 50 day moving average of $31.96 and a two-hundred day moving average of $31.89. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50.

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.