Short Interest in Smith Douglas Homes Corp. (NYSE:SDHC) Expands By 32.0%

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 552,100 shares, an increase of 32.0% from the March 15th total of 418,200 shares. Based on an average daily volume of 87,800 shares, the short-interest ratio is currently 6.3 days. Approximately 6.7% of the shares of the stock are sold short.

Smith Douglas Homes Price Performance

Shares of NYSE SDHC traded up $0.12 during mid-day trading on Thursday, hitting $20.23. 4,700 shares of the stock traded hands, compared to its average volume of 81,612. The company has a market cap of $1.04 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 6.87 and a beta of 1.31. Smith Douglas Homes has a twelve month low of $17.03 and a twelve month high of $39.50. The firm has a 50 day simple moving average of $20.26 and a two-hundred day simple moving average of $26.50.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $287.49 million for the quarter, compared to analysts' expectations of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. On average, equities research analysts anticipate that Smith Douglas Homes will post 1.73 earnings per share 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 SDHC. Wasatch Advisors LP grew its stake in shares of Smith Douglas Homes by 438.9% in the fourth 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 during the last quarter. Beck Mack & Oliver LLC grew its position in shares of Smith Douglas Homes by 58.1% in the 4th 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 during the last quarter. First Eagle Investment Management LLC grew its position in shares of Smith Douglas Homes by 52.8% in the 4th 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 during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Smith Douglas Homes by 4.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock valued at $20,847,000 after buying an additional 35,702 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Smith Douglas Homes by 31.9% during the fourth 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 during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Bank of America cut Smith Douglas Homes from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $33.00 to $22.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $24.60.

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.