Comstock Holding Companies (NASDAQ:CHCI) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Shares of Comstock Holding Companies, Inc. (NASDAQ:CHCI) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.70 and traded as low as $11.49. Comstock Holding Companies shares last traded at $11.54, with a volume of 11,087 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings cut Comstock Holding Companies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Wall Street Zen downgraded shares of Comstock Holding Companies from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Comstock Holding Companies Price Performance

The firm has a market capitalization of $116.42 million and a P/E ratio of 8.68. The stock has a fifty day simple moving average of $11.49 and a two-hundred day simple moving average of $13.70.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CHCI. Truffle Hound Capital LLC grew its holdings in Comstock Holding Companies by 130.1% in the third quarter. Truffle Hound Capital LLC now owns 261,292 shares of the construction company’s stock worth $3,661,000 after purchasing an additional 147,738 shares during the period. Saber Capital Managment LLC bought a new position in shares of Comstock Holding Companies during the 4th quarter worth about $802,000. 683 Capital Management LLC acquired a new stake in shares of Comstock Holding Companies in the 4th quarter valued at about $397,000. Navellier & Associates Inc. acquired a new stake in shares of Comstock Holding Companies in the 3rd quarter valued at about $393,000. Finally, Bristlecone Value Partners LLC bought a new stake in Comstock Holding Companies in the 4th quarter valued at about $240,000. Institutional investors and hedge funds own 6.45% of the company’s stock.

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.