Smith Douglas Homes (NYSE:SDHC) Sees Unusually-High Trading Volume

Smith Douglas Homes Corp. (NYSE:SDHC) shares saw an uptick in trading volume on Monday . 572,433 shares changed hands during trading, an increase of 279% from the previous session’s volume of 150,945 shares.The stock last traded at $28.99 and had previously closed at $30.85.

Analyst Ratings Changes

Separately, Wedbush reissued a “neutral” rating and issued a $20.00 price target (down from $21.00) on shares of Smith Douglas Homes in a report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Smith Douglas Homes currently has an average rating of “Hold” and a consensus target price of $27.10.

Smith Douglas Homes Trading Up 0.9 %

The business has a 50-day moving average price of $25.77 and a 200-day moving average price of $27.41.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $189.21 million for the quarter, compared to analyst estimates of $187.43 million. Research analysts anticipate that Smith Douglas Homes Corp. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC acquired a new stake in shares of Smith Douglas Homes in the first quarter worth $76,000. RiverPark Advisors LLC purchased a new position in Smith Douglas Homes during the 2nd quarter valued at about $120,000. Sandia Investment Management LP acquired a new position in shares of Smith Douglas Homes in the 1st quarter valued at about $178,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Smith Douglas Homes in the first quarter worth approximately $331,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Smith Douglas Homes during the first quarter worth approximately $565,000.

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.