Harbor Custom Development Inc. (NASDAQ: HCDI) stock fell -1.84% on Thursday to $3.74 against a previous-day closing price of $3.81. With 0.1 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.55 million shares. During the session, the Real Estate – Development company that operates in wider Real Estate sector, reached to the highest price of $4.0499 whereas the lowest price it dropped to was $3.7400. The 52-week range on HCDI shows that it touched its highest point at $39.20 and its lowest point at $3.15 during that stretch. It currently has a 1-year price target of $13.00.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HCDI was down-trending over the past week, with a drop of -12.21%, but this was up by 15.43% over a month. Three-month performance dropped to -59.35% while six-month performance fell -70.32%. The stock lost -89.49% in the past year, while it has lost -49.55% so far this year. A look at the trailing 12-month EPS for HCDI yields -34.63 with Next year EPS estimates of -0.04. For the next quarter, that number is -3.40. This implies an EPS growth rate of -136.90% for this year and 97.70% for next year.
Float and Shares Shorts:
At present, 0.72 million HCDI shares are outstanding with a float of 0.36 million shares on hand for trading. On May 14, 2023, short shares totaled 0.24 million, which was 32.83% higher than short shares on Apr 13, 2023. In addition to Mr. Sterling Griffin as the firm’s Founder, CEO, Pres & Chairman, Mr. Lance D. Brown serves as its Chief Financial Officer.
Through their ownership of 8.34% of HCDI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.35% of HCDI, in contrast to 1.63% held by mutual funds. Shares owned by individuals account for 0.41%. As the largest shareholder in HCDI with 3.08% of the stake, Timber Point Capital Management L holds 22,150 shares worth 22,150. A second-largest stockholder of HCDI, Bank of America, NA, holds 6,944 shares, controlling over 0.97% of the firm’s shares. UBS Securities LLC is the third largest shareholder in HCDI, holding 3,942 shares or 0.55% stake. With a 0.82% stake in HCDI, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 5,880 shares are owned by the mutual fund manager. The iShares Tr. – Micro Cap ETF, which owns about 0.45% of HCDI stock, is the second-largest Mutual Fund holder. It holds 3,233 shares valued at 12835.0. Timber Point Global Tactical Allo holds 0.35% of the stake in HCDI, owning 2,500 shares worth 9925.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, HCDI reported revenue of $10.29M and operating income of -$5.59M. The EBITDA in the recently reported quarter was -$4.91M and diluted EPS was -$9.20.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HCDI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HCDI analysts setting a high price target of $13.00 and a low target of $13.00, the average target price over the next 12 months is $13.00. Based on these targets, HCDI could surge 247.59% to reach the target high and rise by 247.59% to reach the target low. Reaching the average price target will result in a growth of 247.59% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded HCDI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 6,000 while 12,867 shares were sold.