United Homes Group (NASDAQ:UHG) Shares Down 2.3% – Here’s What Happened

United Homes Group, Inc. (NASDAQ:UHG) shares traded down 2.3% during mid-day trading on Tuesday . The company traded as low as $1.66 and last traded at $1.69. 501,186 shares were traded during mid-day trading, a decline of 18% from the average session volume of 612,582 shares. The stock had previously closed at $1.73.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of United Homes Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

United Homes Group Stock Down 2.3%

The stock’s 50-day moving average is $3.85 and its 200-day moving average is $3.30. The stock has a market cap of $99.37 million, a P/E ratio of 28.17 and a beta of 1.22. The company has a current ratio of 5.41, a quick ratio of 1.64 and a debt-to-equity ratio of 1.60.

United Homes Group (NASDAQ:UHG) last announced its earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $105.51 million during the quarter. United Homes Group had a net margin of 1.16% and a return on equity of 6.91%.

Hedge Funds Weigh In On United Homes Group

Large investors have recently made changes to their positions in the business. NewEdge Advisors LLC bought a new position in shares of United Homes Group during the 2nd quarter valued at about $29,000. Ground Swell Capital LLC bought a new position in shares of United Homes Group during the 2nd quarter valued at about $32,000. AQR Capital Management LLC bought a new position in shares of United Homes Group during the 1st quarter valued at about $34,000. Y Intercept Hong Kong Ltd bought a new position in shares of United Homes Group during the 2nd quarter valued at about $35,000. Finally, Pitcairn Co. bought a new position in shares of United Homes Group during the 2nd quarter valued at about $46,000. Institutional investors own 88.85% of the company’s stock.

About United Homes Group

United Homes Group, Inc, a homebuilding company, engages in the design, building, and sale of homes in South Carolina, North Carolina, and Georgia. It provides detached single-family houses, as well as attached single-family houses, including duplex and town houses for entry-level buyers, first time move-ups, second time move-ups, third time move-ups, and custom builds.