Smith Douglas Homes (NYSE:SDHC) Hits New 52-Week Low – Here’s What Happened

Smith Douglas Homes Corp. (NYSE:SDHC) hit a new 52-week low on Tuesday . The stock traded as low as $19.52 and last traded at $20.58, with a volume of 15726 shares changing hands. The stock had previously closed at $20.95.

Analysts Set New Price Targets

SDHC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price 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. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Bank of America cut Smith Douglas Homes from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $33.00 to $22.00 in a report on Monday, January 27th. Finally, Wells Fargo & Company dropped their target price on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, January 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 presently has an average rating of “Hold” and an average price target of $25.40.

Smith Douglas Homes Stock Up 2.3 %

The firm has a fifty day moving average of $23.97 and a two-hundred day moving average of $30.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SDHC. Geode Capital Management LLC boosted its holdings in shares of Smith Douglas Homes by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock worth $2,310,000 after acquiring an additional 457 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Smith Douglas Homes during the 4th quarter valued at about $27,000. Quantbot Technologies LP lifted its holdings in shares of Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after buying an additional 2,738 shares in the last quarter. US Bancorp DE boosted its holdings in Smith Douglas Homes by 68.6% in 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 period. Finally, Atria Investments Inc purchased a new position in shares of Smith Douglas Homes during the 3rd quarter valued at $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.