Harbor Custom Development (NASDAQ:HCDI – Get Rating) released its earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02), MarketWatch Earnings reports. Harbor Custom Development had a net margin of 12.24% and a return on equity of 27.49%. Harbor Custom Development updated its FY 2022 guidance to EPS.
Harbor Custom Development stock opened at $1.89 on Friday. The company has a market cap of $24.97 million, a P/E ratio of 4.97 and a beta of -0.33. Harbor Custom Development has a 1-year low of $1.67 and a 1-year high of $3.80. The company has a fifty day simple moving average of $2.29 and a 200 day simple moving average of $2.37. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 1.66.
A number of institutional investors have recently added to or reduced their stakes in HCDI. Morgan Stanley bought a new position in Harbor Custom Development in the second quarter valued at $494,000. State Street Corp grew its position in Harbor Custom Development by 562.7% in the fourth quarter. State Street Corp now owns 101,400 shares of the company’s stock valued at $267,000 after purchasing an additional 86,100 shares in the last quarter. Millennium Management LLC bought a new position in shares of Harbor Custom Development in the 4th quarter valued at about $143,000. Bank of America Corp DE grew its position in shares of Harbor Custom Development by 28.4% in the 2nd quarter. Bank of America Corp DE now owns 238,872 shares of the company’s stock valued at $774,000 after acquiring an additional 52,826 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Harbor Custom Development by 34.7% in the 3rd quarter. Geode Capital Management LLC now owns 82,263 shares of the company’s stock valued at $193,000 after acquiring an additional 21,212 shares during the period. 12.90% of the stock is owned by institutional investors and hedge funds.
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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