Comstock Holding Companies (NASDAQ:CHCI) Share Price Passes Above 200-Day Moving Average – Here’s Why

Comstock Holding Companies, Inc. (NASDAQ:CHCI)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.20 and traded as high as $17.04. Comstock Holding Companies shares last traded at $16.59, with a volume of 29,968 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comstock Holding Companies in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Comstock Holding Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Comstock Holding Companies Stock Up 3.8%

The company has a market cap of $169.38 million, a price-to-earnings ratio of 9.99 and a beta of -0.43. The business’s fifty day simple moving average is $15.96 and its two-hundred day simple moving average is $14.20.

Comstock Holding Companies (NASDAQ:CHCI) last released its quarterly earnings data on Thursday, May 14th. The construction company reported $0.19 earnings per share (EPS) for the quarter. The company 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 Activity at Comstock Holding Companies

In other Comstock Holding Companies news, COO Timothy Steffan sold 13,026 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $14.23, for a total transaction of $185,359.98. Following the completion of the transaction, the chief operating officer owned 122,741 shares in the company, valued at approximately $1,746,604.43. This represents a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 35.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comstock Holding Companies

A number of large investors have recently made changes to their positions in CHCI. Barclays PLC lifted its position in shares of Comstock Holding Companies by 437.7% during the 4th quarter. Barclays PLC now owns 3,839 shares of the construction company’s stock valued at $45,000 after acquiring an additional 3,125 shares during the period. Sfmg LLC purchased a new stake in shares of Comstock Holding Companies during the 4th quarter worth approximately $116,000. Quadrature Capital Ltd acquired a new stake in shares of Comstock Holding Companies in the 4th quarter worth approximately $144,000. NewEdge Advisors LLC grew its holdings in shares of Comstock Holding Companies by 2,573.9% in the 3rd quarter. NewEdge Advisors LLC now owns 12,273 shares of the construction company’s stock worth $172,000 after acquiring an additional 11,814 shares during the period. Finally, Mink Brook Asset Management LLC purchased a new position in Comstock Holding Companies in the 4th quarter valued at approximately $190,000. Hedge funds and other institutional investors 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.