Smith Douglas Homes (NYSE:SDHC) Sees Large Volume Increase – What’s Next?

Smith Douglas Homes Corp. (NYSE:SDHC) saw strong trading volume on Tuesday . 113,832 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 130,639 shares.The stock last traded at $26.04 and had previously closed at $25.99.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Bank of America boosted their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.20.

Smith Douglas Homes Price Performance

The company has a fifty day moving average price of $31.80 and a two-hundred day moving average price of $31.85.

Insider Buying and Selling at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson acquired 8,605 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the purchase, the director now owns 15,748 shares in the company, valued at $468,817.96. This trade represents a 120.47 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in Smith Douglas Homes during the 3rd quarter worth approximately $34,000. Quantbot Technologies LP lifted its holdings in shares of Smith Douglas Homes by 287.0% during 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 period. Atria Investments Inc purchased a new position in Smith Douglas Homes in the 3rd quarter valued at $204,000. XTX Topco Ltd acquired a new position in Smith Douglas Homes in the 3rd quarter valued at $246,000. Finally, Portside Wealth Group LLC purchased a new position in Smith Douglas Homes during the 3rd quarter worth $283,000.

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.