Smith Douglas Homes (NYSE:SDHC) Shares Gap Down – Time to Sell?

Smith Douglas Homes Corp. (NYSE:SDHC) shares gapped down before the market opened on Friday . The stock had previously closed at $17.90, but opened at $17.03. Smith Douglas Homes shares last traded at $17.17, with a volume of 137 shares.

Analysts Set New Price Targets

SDHC has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Zacks Research lowered Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Thursday, January 22nd. Wall Street Zen lowered Smith Douglas Homes from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price objective on shares of Smith Douglas Homes in a report on Friday, November 21st. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $16.60.

Smith Douglas Homes Price Performance

The stock has a 50 day moving average price of $18.71 and a two-hundred day moving average price of $18.55. The company has a market capitalization of $870.74 million, a price-to-earnings ratio of 13.54 and a beta of 0.94.

Hedge Funds Weigh In On Smith Douglas Homes

A number of large investors have recently modified their holdings of SDHC. Conifer Management L.L.C. grew its stake in shares of Smith Douglas Homes by 68.3% during the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company’s stock valued at $24,037,000 after purchasing an additional 581,794 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Smith Douglas Homes by 38.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after buying an additional 91,292 shares in the last quarter. Wasatch Advisors LP boosted its position in Smith Douglas Homes by 6.2% in the 4th quarter. Wasatch Advisors LP now owns 1,249,857 shares of the company’s stock valued at $20,960,000 after buying an additional 72,525 shares during the last quarter. Covey Capital Advisors LLC acquired a new stake in shares of Smith Douglas Homes in the 2nd quarter valued at $705,000. Finally, Marshall Wace LLP acquired a new stake in shares of Smith Douglas Homes in the 2nd quarter valued at $644,000.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.