Short Interest in Comstock Holding Companies, Inc. (NASDAQ:CHCI) Rises By 348.5%

Comstock Holding Companies, Inc. (NASDAQ:CHCI) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 108,493 shares, an increase of 348.5% from the June 15th total of 24,189 shares. Based on an average trading volume of 65,774 shares, the short-interest ratio is currently 1.6 days. Currently, 1.6% of the shares of the company are short sold.

Comstock Holding Companies Stock Down 1.4%

Shares of CHCI traded down $0.22 during trading hours on Friday, hitting $15.50. The company had a trading volume of 40,761 shares, compared to its average volume of 42,247. The firm has a market cap of $158.25 million, a price-to-earnings ratio of 9.34 and a beta of -0.43. The business has a fifty day moving average of $15.81 and a 200-day moving average of $14.35. Comstock Holding Companies has a 12 month low of $10.14 and a 12 month high of $19.72.

Comstock Holding Companies (NASDAQ:CHCI) last announced its earnings results on Thursday, May 14th. The construction company reported $0.19 EPS for the quarter. The business had revenue of $17.45 million during the quarter. Comstock Holding Companies had a net margin of 25.79% and a return on equity of 27.54%.

Insider Buying and Selling at Comstock Holding Companies

In other news, COO Timothy Steffan sold 13,026 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $14.23, for a total transaction of $185,359.98. Following the transaction, the chief operating officer directly owned 122,741 shares in the company, valued at $1,746,604.43. The trade was a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 35.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Truffle Hound Capital LLC raised its stake in Comstock Holding Companies by 33.9% in the 4th quarter. Truffle Hound Capital LLC now owns 350,000 shares of the construction company’s stock worth $4,067,000 after purchasing an additional 88,708 shares in the last quarter. Renaissance Technologies LLC grew its position in Comstock Holding Companies by 1.8% during the first quarter. Renaissance Technologies LLC now owns 180,479 shares of the construction company’s stock worth $3,418,000 after buying an additional 3,213 shares in the last quarter. Geode Capital Management LLC grew its position in 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 worth $1,625,000 after buying an additional 1,952 shares in the last quarter. Saber Capital Managment LLC bought a new stake in Comstock Holding Companies during the fourth quarter worth about $802,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Comstock Holding Companies by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 50,922 shares of the construction company’s stock worth $964,000 after acquiring an additional 3,704 shares during the period. Institutional investors own 6.45% of the company’s stock.

Wall Street Analyst Weigh In

CHCI has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Comstock Holding Companies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comstock Holding Companies in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Comstock Holding Companies Company Profile

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.