Smith Douglas Homes (NYSE:SDHC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Smith Douglas Homes Corp. (NYSE:SDHC) saw unusually-high trading volume on Tuesday . Approximately 113,832 shares traded hands during 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.

Analyst Upgrades and Downgrades

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

Smith Douglas Homes Stock Down 0.4 %

The stock’s 50 day moving average is $32.11 and its two-hundred day moving average is $31.89.

Insider Transactions at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson purchased 8,605 shares of Smith Douglas Homes stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $29.77 per share, with a total value of $256,170.85. Following the completion of the transaction, the director now owns 15,748 shares in the company, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. lifted its holdings in Smith Douglas Homes by 5.5% in the second quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock valued at $12,328,000 after acquiring an additional 27,300 shares during the period. Renaissance Technologies LLC raised its position in shares of Smith Douglas Homes by 260.2% in the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $783,000 after acquiring an additional 24,200 shares during the period. Atria Investments Inc purchased a new position in Smith Douglas Homes during the third quarter worth approximately $204,000. BNP Paribas Financial Markets purchased a new stake in shares of Smith Douglas Homes in the third quarter valued at approximately $591,000. Finally, Seven Grand Managers LLC increased its holdings in Smith Douglas Homes by 100.0% in the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after acquiring an additional 25,000 shares in the last quarter.

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.