Smith Douglas Homes (NYSE:SDHC) Shares Gap Down – Here’s What Happened

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) gapped down before the market opened on Friday . The stock had previously closed at $17.90, but opened at $17.03. Smith Douglas Homes shares last traded at $17.17, with a volume of 137 shares trading hands.

Analysts Set New Price Targets

SDHC has been the topic of several research reports. Wells Fargo & Company dropped their price target on shares of Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Wall Street Zen cut shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a report on Sunday, November 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price target on shares of Smith Douglas Homes in a report on Friday, November 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Thursday, January 22nd. Finally, BTIG Research started coverage on Smith Douglas Homes in a report on Monday, December 1st. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $16.60.

Smith Douglas Homes Trading Down 0.4%

The firm’s 50-day simple moving average is $18.81 and its two-hundred day simple moving average is $18.58. The stock has a market capitalization of $874.34 million, a PE ratio of 13.60 and a beta of 0.94.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds have recently bought and sold shares of the business. VARCOV Co. purchased a new position in Smith Douglas Homes during the 4th quarter valued at about $200,000. Wellington Management Group LLP lifted its position in shares of Smith Douglas Homes by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock worth $19,738,000 after purchasing an additional 24,996 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Smith Douglas Homes during the fourth quarter worth approximately $182,000. State Street Corp grew its position in Smith Douglas Homes by 2.7% during the fourth quarter. State Street Corp now owns 42,312 shares of the company’s stock valued at $710,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Smith Douglas Homes by 5.1% in the 4th quarter. Wells Fargo & Company MN now owns 128,597 shares of the company’s stock valued at $2,157,000 after buying an additional 6,191 shares during the period.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.