Smith Douglas Homes (NYSE:SDHC) Shares Down 7.8% - Here's What Happened

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) was down 7.8% during mid-day trading on Monday . The company traded as low as $22.05 and last traded at $21.77. Approximately 55,162 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 87,874 shares. The stock had previously closed at $23.62.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, December 13th. Wedbush restated a "neutral" rating and set a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Wells Fargo & Company cut their price target on shares of Smith Douglas Homes from $33.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Finally, Bank of America cut shares of Smith Douglas Homes from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $33.00 to $22.00 in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Smith Douglas Homes has an average rating of "Hold" and an average price target of $25.40.

Smith Douglas Homes Stock Down 2.8 %

The company's fifty day moving average is $24.36 and its two-hundred day moving average is $31.13.

Institutional Investors Weigh In On Smith Douglas Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new stake in shares of Smith Douglas Homes in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP boosted its stake in Smith Douglas Homes by 287.0% during the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company's stock worth $139,000 after purchasing an additional 2,738 shares during the period. Atria Investments Inc purchased a new position in Smith Douglas Homes during the 3rd quarter worth $204,000. Trexquant Investment LP acquired a new position in Smith Douglas Homes in the fourth quarter valued at $218,000. Finally, Yorktown Management & Research Co Inc purchased a new position in shares of Smith Douglas Homes during the fourth quarter worth about $236,000.

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.