Smith Douglas Homes (NYSE:SDHC) Trading Down 6% - Time to Sell?

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) shares traded down 6% during mid-day trading on Monday . The stock traded as low as $22.63 and last traded at $22.80. 39,585 shares changed hands during trading, a decline of 59% from the average session volume of 95,517 shares. The stock had previously closed at $24.26.

Wall Street Analysts Forecast Growth

A number of research analysts 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 on the stock in a report on Friday, December 13th. Wells Fargo & Company dropped their target price on shares of Smith Douglas Homes from $33.00 to $24.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Bank of America cut Smith Douglas Homes from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $33.00 to $22.00 in a report on Monday, January 27th. Finally, Wedbush restated a "neutral" rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $25.40.

Smith Douglas Homes Price Performance

The stock's fifty day moving average is $27.10 and its 200 day moving average is $31.92.

Insider Activity

In other news, Director Jeffrey T. Jackson acquired 8,605 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was acquired at an average price of $29.77 per share, with a total value of $256,170.85. Following the completion of the purchase, the director now directly owns 15,748 shares in the company, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new position in Smith Douglas Homes during the 3rd quarter valued at $34,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Smith Douglas Homes during the fourth quarter valued at $27,000. Quantbot Technologies LP grew its holdings in shares of Smith Douglas Homes by 287.0% in the third 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 last quarter. Atria Investments Inc purchased a new position in shares of Smith Douglas Homes during the third quarter worth approximately $204,000. Finally, XTX Topco Ltd purchased a new stake in shares of Smith Douglas Homes in the third quarter valued at approximately $246,000.

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.