Smith-Midland (NASDAQ:SMID) Shares Up 7.3% - Here's Why

Smith-Midland Co. (NASDAQ:SMID - Get Free Report)'s share price shot up 7.3% during trading on Tuesday . The stock traded as high as $31.89 and last traded at $31.58. 4,003 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 24,026 shares. The stock had previously closed at $29.44.

Smith-Midland Stock Performance

The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $32.64 and a two-hundred day moving average price of $37.63. The stock has a market cap of $167.53 million, a P/E ratio of 26.10 and a beta of 1.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new stake in shares of Smith-Midland in the fourth quarter worth about $48,000. BNP Paribas Financial Markets purchased a new position in Smith-Midland during the 4th quarter valued at approximately $72,000. Wells Fargo & Company MN increased its stake in Smith-Midland by 61.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,235 shares of the company's stock worth $99,000 after acquiring an additional 851 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Smith-Midland by 39,258.3% during the 1st quarter. GAMMA Investing LLC now owns 4,723 shares of the company's stock worth $152,000 after acquiring an additional 4,711 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Smith-Midland by 3,790.4% during the 4th quarter. Deutsche Bank AG now owns 4,863 shares of the company's stock valued at $216,000 after acquiring an additional 4,738 shares during the last quarter. 49.94% of the stock is currently owned by institutional investors.

Smith-Midland Company Profile

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems in the United States. It offers SlenderWall lightweight construction panel, lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; Easi-Set precast building and Easi-Span expandable precast buildings, used in housing communications operations, traffic control systems, and mechanical and electrical stations; Easi-Set utility, vaults for house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as custom-built utility vaults for special needs; SoftSound soundwall panels, it absorb highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage systems for panelized exterior cladding.

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