Smith Douglas Homes (NYSE:SDHC) Stock Price Down 6% – Time to Sell?

Smith Douglas Homes Corp. (NYSE:SDHC)’s stock price fell 6% during mid-day trading on Monday . The company traded as low as $22.63 and last traded at $22.80. 39,585 shares changed hands during trading, a decline of 59% from the average session volume of 95,517 shares. The stock had previously closed at $24.26.

Wall Street Analyst Weigh In

Several brokerages have commented on SDHC. Wedbush restated a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Wells Fargo & Company cut their price objective on shares of Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. 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 report on Friday, December 13th. Finally, Bank of America downgraded shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and cut their price target for the company from $33.00 to $22.00 in a report on Monday, January 27th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Smith Douglas Homes currently has a consensus rating of “Hold” and an average price target of $25.40.

Smith Douglas Homes Trading Down 6.2 %

The company has a fifty day moving average price of $27.90 and a 200 day moving average price of $32.11.

Insiders Place Their Bets

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the transaction, the director now directly owns 15,748 shares of the company’s stock, valued at $468,817.96. This represents a 120.47 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SDHC. nVerses Capital LLC bought a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at about $34,000. Arcadia Investment Management Corp MI bought a new stake in shares of Smith Douglas Homes in the 4th quarter worth approximately $27,000. Quantbot Technologies LP increased its stake in shares of Smith Douglas Homes by 287.0% during the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock valued at $139,000 after buying an additional 2,738 shares during the period. Atria Investments Inc bought a new position in shares of Smith Douglas Homes during the third quarter valued at approximately $204,000. Finally, XTX Topco Ltd purchased a new stake in Smith Douglas Homes in the third quarter worth $246,000.

About Smith Douglas Homes

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.