Smith Douglas Homes (NYSE:SDHC) Stock Price Up 4.8% – Here’s Why

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on SDHC shares. Wells Fargo & Company reduced their price objective on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Bank of America lowered Smith Douglas Homes from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $33.00 to $22.00 in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. dropped their target price on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Smith Douglas Homes has an average rating of “Hold” and an average price target of $25.40.

Smith Douglas Homes Stock Performance

The company’s 50-day simple moving average is $23.70 and its 200 day simple moving average is $30.69.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Smith Douglas Homes by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock worth $2,310,000 after buying an additional 457 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Smith Douglas Homes in the 4th quarter worth about $27,000. Quantbot Technologies LP raised its stake 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 valued at $139,000 after purchasing an additional 2,738 shares during the period. US Bancorp DE grew its holdings in shares of Smith Douglas Homes by 68.6% during the 3rd 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 last quarter. Finally, Atria Investments Inc purchased a new position in shares of Smith Douglas Homes during the third quarter valued at approximately $204,000.

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.