Smith Douglas Homes Corp.'s Lock-Up Period Will Expire on July 9th (NYSE:SDHC)

Smith Douglas Homes' (NYSE:SDHC - Get Free Report) lock-up period will expire on Tuesday, July 9th. Smith Douglas Homes had issued 7,692,308 shares in its IPO on January 11th. The total size of the offering was $161,538,468 based on an initial share price of $21.00. After the expiration of the company's lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Smith Douglas Homes from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, March 22nd. Wedbush restated a "neutral" rating and set a $20.00 target price (down previously from $21.00) on shares of Smith Douglas Homes in a research report on Tuesday, May 14th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $26.00 target price on shares of Smith Douglas Homes in a research report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.10.

Smith Douglas Homes Price Performance

Shares of NYSE SDHC traded down $1.42 during midday trading on Tuesday, reaching $21.49. 125,495 shares of the stock were exchanged, compared to its average volume of 149,564. Smith Douglas Homes has a 52-week low of $21.37 and a 52-week high of $32.82. The stock's 50 day simple moving average is $26.24.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $189.21 million for the quarter, compared to analysts' expectations of $187.43 million. On average, analysts anticipate that Smith Douglas Homes will post 1.69 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

Institutional investors have recently bought and sold shares of the stock. SYSTM Wealth Solutions LLC purchased a new stake in Smith Douglas Homes in the first quarter valued at approximately $76,000. Sandia Investment Management LP acquired a new position in Smith Douglas Homes during the first quarter valued at approximately $178,000. Azzad Asset Management Inc. ADV acquired a new position in Smith Douglas Homes during the first quarter valued at approximately $331,000. Teachers Retirement System of The State of Kentucky acquired a new position in Smith Douglas Homes during the first quarter valued at approximately $565,000. Finally, Daiwa Securities Group Inc. acquired a new position in Smith Douglas Homes during the first quarter valued at approximately $688,000.

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.