New Home Company Inc (NYSE:NWHM) Sees Large Decline in Short Interest

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New Home Company Inc (NYSE:NWHM) was the target of a significant decline in short interest in the month of December. As of December 13th, there was short interest totalling 423,600 shares, a decline of 5.2% from the November 28th total of 446,900 shares. Based on an average trading volume of 70,400 shares, the short-interest ratio is currently 6.0 days. Currently, 3.5% of the shares of the company are sold short.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new position in shares of New Home in the second quarter worth about $25,000. California Public Employees Retirement System increased its stake in shares of New Home by 5.8% in the third quarter. California Public Employees Retirement System now owns 184,900 shares of the construction company’s stock worth $806,000 after purchasing an additional 10,100 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of New Home in the second quarter worth about $45,000. Spears Abacus Advisors LLC purchased a new position in shares of New Home in the second quarter worth about $46,000. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of New Home by 229.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 33,210 shares of the construction company’s stock worth $128,000 after purchasing an additional 23,140 shares in the last quarter. Hedge funds and other institutional investors own 48.87% of the company’s stock.

NWHM opened at $4.50 on Monday. The company has a market capitalization of $92.45 million, a price-to-earnings ratio of 14.84 and a beta of 1.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $4.59 and a 200-day moving average price of $4.31. New Home has a twelve month low of $3.46 and a twelve month high of $7.38.

New Home (NYSE:NWHM) last posted its earnings results on Thursday, October 31st. The construction company reported $0.01 earnings per share for the quarter. The firm had revenue of $165.62 million during the quarter. New Home had a negative net margin of 3.13% and a positive return on equity of 2.58%.

Separately, ValuEngine lowered shares of New Home from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

New Home Company Profile

The New Home Company Inc, a homebuilder, focuses on the design, construction, and sale of homes. The company operates in two segments, Homebuilding and Fee Building. It builds and sells homes in metropolitan areas of California and Arizona, including Southern California, the San Francisco Bay area, metro Sacramento, and the greater Phoenix area.

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