Smith Douglas Homes (NYSE:SDHC) Reaches New 12-Month Low - Here's Why

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) shares hit a new 52-week low on Tuesday . The company 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America lowered shares of Smith Douglas Homes from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $33.00 to $22.00 in a report on Monday, January 27th. Wells Fargo & Company dropped their price objective on shares of 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. JPMorgan Chase & Co. dropped their price objective on shares of Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, December 13th. Finally, Wedbush restated a "neutral" rating and set a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, Smith Douglas Homes has an average rating of "Hold" and a consensus price target of $25.40.

Smith Douglas Homes Trading Down 2.5 %

The business's 50-day moving average is $23.50 and its 200-day moving average is $30.49.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SDHC. US Bancorp DE raised its position in shares of Smith Douglas Homes by 68.6% in the third quarter. US Bancorp DE now owns 9,896 shares of the company's stock worth $374,000 after acquiring an additional 4,027 shares during the period. Portside Wealth Group LLC acquired a new position in shares of Smith Douglas Homes in the third quarter worth about $283,000. Atria Investments Inc acquired a new position in shares of Smith Douglas Homes in the third quarter worth about $204,000. Lisanti Capital Growth LLC raised its position in shares of Smith Douglas Homes by 20.4% in the third quarter. Lisanti Capital Growth LLC now owns 52,785 shares of the company's stock worth $1,994,000 after acquiring an additional 8,945 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Smith Douglas Homes in the third quarter worth about $349,000.

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About Smith Douglas Homes

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.