Smith Douglas Homes Corp. (NYSE:SDHC) Short Interest Up 18.7% in December

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

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC traded down $0.35 during midday trading on Tuesday, hitting $25.64. 302,847 shares of the stock were exchanged, compared to its average volume of 131,805. The business’s 50-day moving average price is $31.96 and its 200 day moving average price is $31.89. Smith Douglas Homes has a 12 month low of $20.55 and a 12 month high of $39.50.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SDHC. JPMorgan Chase & Co. dropped their price objective 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 note on Tuesday, November 12th. Bank of America lifted their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company raised their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.20.

Insider Buying and Selling

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction on Tuesday, November 19th. The shares were purchased at an average price of $29.77 per share, with a total value of $256,170.85. Following the acquisition, the director now owns 15,748 shares in the company, valued at $468,817.96. This trade represents a 120.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Smith Douglas Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of Smith Douglas Homes in the third quarter valued at about $34,000. Quantbot Technologies LP boosted its holdings in Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after acquiring an additional 2,738 shares during the last quarter. Atria Investments Inc acquired a new stake in Smith Douglas Homes during the 3rd quarter valued at approximately $204,000. XTX Topco Ltd bought a new position in Smith Douglas Homes during the 3rd quarter worth approximately $246,000. Finally, Portside Wealth Group LLC acquired a new position in shares of Smith Douglas Homes in the 3rd quarter worth 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.