Smith Douglas Homes (NYSE:SDHC) Trading 4.8% Higher – Should You Buy?

Smith Douglas Homes Corp. (NYSE:SDHC) traded up 4.8% on Thursday . The company traded as high as $21.99 and last traded at $21.95. 7,282 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 117,450 shares. The stock had previously closed at $20.95.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. 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 note on Friday, December 13th. Finally, Bank of America lowered Smith Douglas Homes from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock 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 given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.40.

Smith Douglas Homes Stock Performance

The business has a 50 day moving average of $23.50 and a 200 day moving average of $30.52.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Smith Douglas Homes by 68.6% during the third quarter. US Bancorp DE now owns 9,896 shares of the company’s stock valued at $374,000 after purchasing an additional 4,027 shares during the period. Portside Wealth Group LLC purchased a new stake in Smith Douglas Homes during the third quarter valued at approximately $283,000. Atria Investments Inc purchased a new stake in Smith Douglas Homes during the third quarter valued at approximately $204,000. Lisanti Capital Growth LLC raised its position in Smith Douglas Homes by 20.4% during the third quarter. Lisanti Capital Growth LLC now owns 52,785 shares of the company’s stock valued at $1,994,000 after purchasing an additional 8,945 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in Smith Douglas Homes during the third quarter valued at approximately $349,000.

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.