Smith Douglas Homes (NYSE:SDHC) Trading Down 3.6% – Should You Sell?

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price was down 3.6% during mid-day trading on Thursday . The company traded as low as $26.45 and last traded at $26.51. Approximately 74,076 shares traded hands during trading, a decline of 42% from the average daily volume of 128,754 shares. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. reduced their target price 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. Bank of America upped their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Smith Douglas Homes currently has an average rating of “Hold” and an average target price of $32.20.

Smith Douglas Homes Stock Performance

The business has a 50 day simple moving average of $32.29 and a 200-day simple moving average of $31.79.

Insider Activity at Smith Douglas Homes

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

Institutional Trading of Smith Douglas Homes

Hedge funds have recently bought and sold shares of the business. nVerses Capital LLC bought a new stake in shares of Smith Douglas Homes during the 3rd quarter worth $34,000. Quantbot Technologies LP raised 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 bought a new stake in Smith Douglas Homes in the third quarter worth about $204,000. XTX Topco Ltd purchased a new position in Smith Douglas Homes in the third quarter valued at about $246,000. Finally, Portside Wealth Group LLC bought a new position in shares of Smith Douglas Homes during the 3rd quarter valued at approximately $283,000.

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.