Smith Douglas Homes Corp. (NYSE:SDHC) Short Interest Update

Smith Douglas Homes Corp. (NYSE:SDHC) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 527,800 shares, a decrease of 30.6% from the August 31st total of 760,100 shares. Approximately 6.2% of the shares of the company are sold short. Based on an average daily trading volume, of 158,200 shares, the days-to-cover ratio is currently 3.3 days.

Smith Douglas Homes Stock Performance

NYSE:SDHC traded up $1.34 during mid-day trading on Friday, reaching $36.90. The stock had a trading volume of 124,879 shares, compared to its average volume of 134,999. The stock has a 50-day simple moving average of $34.21 and a two-hundred day simple moving average of $29.39. Smith Douglas Homes has a 12 month low of $20.55 and a 12 month high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $220.90 million for the quarter, compared to the consensus estimate of $208.02 million. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, research analysts predict that Smith Douglas Homes will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

SDHC has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Bank of America increased their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.50.

Hedge Funds Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norden Group LLC acquired a new stake in shares of Smith Douglas Homes during the 1st quarter valued at $2,331,000. Sei Investments Co. acquired a new stake in shares of Smith Douglas Homes during the first quarter valued at about $1,015,000. Capstone Investment Advisors LLC bought a new stake in shares of Smith Douglas Homes during the first quarter worth about $1,625,000. Lisanti Capital Growth LLC acquired a new position in shares of Smith Douglas Homes in the first quarter valued at approximately $3,973,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Smith Douglas Homes in the 1st quarter valued at approximately $565,000.

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.