Smith-Midland (NASDAQ:SMID) Stock Price Up 3.7% – What’s Next?

Smith-Midland Corp. (NASDAQ:SMID)’s stock price rose 3.7% during trading on Monday . The stock traded as high as $40.00 and last traded at $39.82. Approximately 9,458 shares traded hands during mid-day trading, an increase of 59% from the average daily volume of 5,951 shares. The stock had previously closed at $38.41.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Smith-Midland in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Smith-Midland Price Performance

The company has a current ratio of 2.76, a quick ratio of 2.33 and a debt-to-equity ratio of 0.08. The company has a market cap of $199.28 million, a PE ratio of 16.94 and a beta of 1.81. The firm has a 50 day moving average of $35.63 and a two-hundred day moving average of $36.73.

Hedge Funds Weigh In On Smith-Midland

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers grew its position in Smith-Midland by 9.6% during the 1st quarter. Rhumbline Advisers now owns 4,265 shares of the company’s stock valued at $133,000 after purchasing an additional 372 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Smith-Midland in the second quarter worth approximately $238,000. Los Angeles Capital Management LLC purchased a new stake in shares of Smith-Midland during the second quarter valued at approximately $370,000. Thompson Davis & CO. Inc. grew its holdings in shares of Smith-Midland by 24.0% during the second quarter. Thompson Davis & CO. Inc. now owns 2,245,903 shares of the company’s stock valued at $75,373,000 after buying an additional 433,968 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Smith-Midland by 495.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,787 shares of the company’s stock valued at $60,000 after acquiring an additional 1,487 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

About Smith-Midland

Smith-Midland Corporation (NASDAQ: SMID) is a Virginia‐based manufacturer specializing in precast and cast‐in‐place concrete products for use in residential, commercial and infrastructure applications. Headquartered in Midland, Virginia, the company operates a primary production facility where it designs, engineers and produces a wide array of concrete components under stringent quality controls. Smith‐Midland’s products are widely used by builders, contractors and government agencies across the United States.

The company’s Construction Products Group offers an extensive portfolio of engineered solutions for transportation and site development projects.