Smith Douglas Homes (NYSE:SDHC) Stock Price Down 7.8% – What’s Next?

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price dropped 7.8% during mid-day trading on Monday . The stock traded as low as $22.05 and last traded at $21.77. Approximately 55,162 shares traded hands during trading, a decline of 37% from the average daily volume of 87,874 shares. The stock had previously closed at $23.62.

Analysts Set New Price Targets

A number of research firms have weighed in on SDHC. JPMorgan Chase & Co. decreased their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Wells Fargo & Company reduced their price target 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. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Finally, Bank of America downgraded shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $33.00 to $22.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.40.

Smith Douglas Homes Trading Down 7.2 %

The firm’s fifty day simple moving average is $24.93 and its 200-day simple moving average is $31.32.

Hedge Funds Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently bought and sold shares of SDHC. Arcadia Investment Management Corp MI bought a new position in shares of Smith Douglas Homes in the 4th quarter worth about $27,000. Quantbot Technologies LP increased 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 worth $139,000 after purchasing an additional 2,738 shares in the last quarter. Atria Investments Inc acquired a new position in Smith Douglas Homes in the third quarter valued at approximately $204,000. Trexquant Investment LP bought a new position in shares of Smith Douglas Homes during the 4th quarter worth approximately $218,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Smith Douglas Homes during the 4th quarter worth approximately $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.