Smith Douglas Homes (NYSE:SDHC) Stock Price Down 8.8% – Here’s Why

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

Analysts Set New Price Targets

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

Smith Douglas Homes Stock Performance

The company has a market capitalization of $621.00 million, a P/E ratio of 9.66 and a beta of 1.04. The company has a 50-day simple moving average of $17.80 and a 200 day simple moving average of $18.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC grew its position in Smith Douglas Homes by 38.0% during the third quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after buying an additional 91,292 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Smith Douglas Homes in the 3rd quarter worth approximately $188,000. AlphaQuest LLC bought a new stake in shares of Smith Douglas Homes in the 3rd quarter worth approximately $195,000. Inspire Advisors LLC acquired a new stake in shares of Smith Douglas Homes during the 3rd quarter worth approximately $214,000. Finally, VARCOV Co. bought a new stake in shares of Smith Douglas Homes during the fourth quarter valued at approximately $200,000.

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