Harbor Custom Development, Inc. (NASDAQ:HCDI) Short Interest Update

Harbor Custom Development, Inc. (NASDAQ:HCDIGet Rating) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,070,000 shares, a drop of 9.3% from the August 15th total of 1,180,000 shares. Based on an average trading volume of 124,800 shares, the days-to-cover ratio is presently 8.6 days. Currently, 10.6% of the shares of the company are short sold.

Institutional Trading of Harbor Custom Development

A hedge fund recently bought a new stake in Harbor Custom Development stock. Steward Financial Group LLC acquired a new stake in shares of Harbor Custom Development, Inc. (NASDAQ:HCDIGet Rating) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,442 shares of the company’s stock, valued at approximately $28,000. Steward Financial Group LLC owned 0.09% of Harbor Custom Development at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.92% of the company’s stock.

Harbor Custom Development Trading Up 6.3 %

Shares of Harbor Custom Development stock opened at $1.18 on Monday. The company’s fifty day simple moving average is $1.28 and its 200-day simple moving average is $1.76. The stock has a market capitalization of $16.94 million, a PE ratio of -8.43 and a beta of 0.17. Harbor Custom Development has a 1-year low of $1.04 and a 1-year high of $3.80. The company has a debt-to-equity ratio of 3.11, a current ratio of 2.31 and a quick ratio of 2.31.

Harbor Custom Development (NASDAQ:HCDIGet Rating) last issued its quarterly earnings results on Monday, August 15th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.49). The business had revenue of $10.29 million for the quarter, compared to analysts’ expectations of $36.10 million. Harbor Custom Development had a return on equity of 19.75% and a net margin of 7.78%. As a group, equities analysts anticipate that Harbor Custom Development will post -0.65 earnings per share for the current year.

About Harbor Custom Development

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Harbor Custom Development, Inc operates as a real estate development company in Washington, California, Texas, and Florida. The company is involved in land acquisition, entitlements, development, construction of project infrastructure, single and multi-family vertical construction, marketing, sales, and management of various residential projects.

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