Short Interest in Smith Douglas Homes Corp. (NYSE:SDHC) Drops By 24.6%

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) saw a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 364,800 shares, a drop of 24.6% from the January 31st total of 483,900 shares. Based on an average daily trading volume, of 98,600 shares, the days-to-cover ratio is presently 3.7 days. Approximately 4.3% of the shares of the company are short sold.

Smith Douglas Homes Stock Performance

NYSE SDHC traded down $0.20 on Monday, reaching $20.97. 82,801 shares of the stock traded hands, compared to its average volume of 117,674. Smith Douglas Homes has a 12 month low of $20.55 and a 12 month high of $39.50. The firm's fifty day simple moving average is $24.09 and its 200 day simple moving average is $30.95.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in shares of Smith Douglas Homes by 438.9% in the 4th quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company's stock worth $29,640,000 after purchasing an additional 941,511 shares in the last quarter. Beck Mack & Oliver LLC increased its holdings in shares of Smith Douglas Homes by 58.1% in the fourth quarter. Beck Mack & Oliver LLC now owns 699,430 shares of the company's stock valued at $17,933,000 after buying an additional 256,950 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Smith Douglas Homes by 52.8% in the fourth quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company's stock valued at $3,817,000 after buying an additional 51,419 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Smith Douglas Homes by 4.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock valued at $20,847,000 after acquiring an additional 35,702 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Smith Douglas Homes by 31.9% during the 4th quarter. Renaissance Technologies LLC now owns 99,200 shares of the company's stock worth $2,543,000 after acquiring an additional 24,000 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on SDHC shares. JPMorgan Chase & Co. dropped their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, December 13th. Bank of America downgraded Smith Douglas Homes from a "neutral" rating to an "underperform" rating and cut their target price for the company from $33.00 to $22.00 in a research note on Monday, January 27th. Wedbush reiterated a "neutral" rating and set a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lowered their price target 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 investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $25.40.

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.