Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report)'s share price dropped 3.6% during trading on Thursday . The company traded as low as $26.45 and last traded at $26.51. Approximately 74,076 shares were traded during trading, a decline of 42% from the average daily volume of 128,754 shares. The stock had previously closed at $27.50.
Several brokerages have recently weighed in on SDHC. Wedbush reaffirmed a "neutral" rating and issued a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, December 13th. Bank of America upped their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company raised their target price 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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $32.20.
Get Our Latest Stock Analysis on SDHC
The business has a 50-day moving average price of $32.70 and a two-hundred day moving average price of $31.81.
In other news, Director Jeffrey T. Jackson bought 8,605 shares of the business's stock in a transaction that occurred 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 purchase, the director now owns 15,748 shares of the company's stock, valued at $468,817.96. This trade represents a 120.47 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Smith Douglas Homes during the third quarter worth approximately $34,000. Quantbot Technologies LP increased its holdings in shares of Smith Douglas Homes by 287.0% during the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company's stock worth $139,000 after buying an additional 2,738 shares during the last quarter. Atria Investments Inc purchased a new position in shares of Smith Douglas Homes in the 3rd quarter worth $204,000. XTX Topco Ltd purchased a new stake in Smith Douglas Homes during the third quarter valued at about $246,000. Finally, Portside Wealth Group LLC acquired a new stake in Smith Douglas Homes during the third quarter worth about $283,000.
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.
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