Comstock Holding Companies (NASDAQ:CHCI) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Comstock Holding Companies, Inc. (NASDAQ:CHCI) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.70 and traded as low as $11.49. Comstock Holding Companies shares last traded at $11.54, with a volume of 11,087 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHCI. Wall Street Zen lowered Comstock Holding Companies from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings cut Comstock Holding Companies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Comstock Holding Companies currently has a consensus rating of “Hold”.

Comstock Holding Companies Stock Performance

The firm has a market cap of $116.42 million and a price-to-earnings ratio of 8.68. The business has a fifty day simple moving average of $11.49 and a 200-day simple moving average of $13.70.

Hedge Funds Weigh In On Comstock Holding Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHCI. Geode Capital Management LLC raised its stake in shares of Comstock Holding Companies by 1.2% during the second quarter. Geode Capital Management LLC now owns 161,045 shares of the construction company’s stock valued at $1,625,000 after acquiring an additional 1,952 shares during the last quarter. Truffle Hound Capital LLC acquired a new stake in Comstock Holding Companies in the second quarter valued at $1,146,000. Corsair Capital Management L.P. increased its holdings in Comstock Holding Companies by 6.4% in the second quarter. Corsair Capital Management L.P. now owns 51,131 shares of the construction company’s stock valued at $516,000 after purchasing an additional 3,085 shares during the period. Navellier & Associates Inc. bought a new position in Comstock Holding Companies during the 3rd quarter worth $393,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Comstock Holding Companies by 7.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 38,775 shares of the construction company’s stock worth $543,000 after buying an additional 2,704 shares during the period. 6.45% of the stock is currently owned by institutional investors and hedge funds.

About Comstock Holding Companies

Comstock Holding Companies, Inc (NASDAQ: CHCI) is a diversified holding company that, through its primary operating subsidiary, focuses on the design, construction and operation of fiber optic network systems in the United States. The company delivers high-capacity connectivity solutions to broadband service providers, including dark fiber leasing, wavelength services, transport and last-mile connectivity. By partnering with carriers, cable operators and municipal entities, Comstock leverages its network infrastructure to support residential, commercial and institutional customers requiring scalable, reliable bandwidth.

Following the divestiture of its homebuilding division in 2013, Comstock has concentrated its capital and resources on expanding its fiber network footprint into select regional markets.