Short Interest in Comstock Holding Companies, Inc. (NASDAQ:CHCI) Rises By 36.6%

Key Points

• Short interest in Comstock Holding Companies increased by 36.6% in August, rising from 20,500 to 28,000 shares, indicating a growing bearish sentiment among investors.
• Wall Street analysts downgraded the company's stock from a "strong-buy" to a "buy" rating, reflecting cautious optimism about its future performance.
• Insider selling activity was noted as both the COO and CFO sold shares, with a total of 22,947 shares sold over the past three months, which may suggest confidence concerns among company executives.

Comstock Holding Companies, Inc. (NASDAQ:CHCI - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 28,000 shares, an increase of 36.6% from the August 15th total of 20,500 shares. Based on an average daily trading volume, of 24,500 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.9% of the company's shares are short sold. Currently, 0.9% of the company's shares are short sold. Based on an average daily trading volume, of 24,500 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Comstock Holding Companies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th.

Comstock Holding Companies Price Performance

Comstock Holding Companies stock traded down $0.19 during mid-day trading on Tuesday, reaching $15.45. The stock had a trading volume of 14,352 shares, compared to its average volume of 25,520. The company has a market capitalization of $155.59 million, a price-to-earnings ratio of 10.26 and a beta of 0.18. The company has a 50-day moving average price of $14.33 and a two-hundred day moving average price of $11.14. Comstock Holding Companies has a one year low of $6.31 and a one year high of $18.99.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $12.97 million for the quarter. Comstock Holding Companies had a net margin of 28.35% and a return on equity of 30.98%.

Insider Buying and Selling

In related news, COO Timothy Steffan sold 4,611 shares of Comstock Holding Companies stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $14.79, for a total value of $68,196.69. Following the transaction, the chief operating officer directly owned 96,899 shares of the company's stock, valued at $1,433,136.21. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher Michael Guthrie sold 4,367 shares of Comstock Holding Companies stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $14.82, for a total transaction of $64,718.94. Following the completion of the transaction, the chief financial officer directly owned 119,545 shares in the company, valued at approximately $1,771,656.90. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,947 shares of company stock valued at $345,893 over the last three months. 36.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comstock Holding Companies

Several hedge funds and other institutional investors have recently made changes to their positions in CHCI. Corsair Capital Management L.P. increased its holdings in Comstock Holding Companies by 6.4% in the 2nd quarter. Corsair Capital Management L.P. now owns 51,131 shares of the construction company's stock worth $516,000 after acquiring an additional 3,085 shares in the last quarter. Truffle Hound Capital LLC bought a new position in Comstock Holding Companies in the 2nd quarter worth approximately $1,146,000. Finally, Geode Capital Management LLC boosted its stake in Comstock Holding Companies by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 161,045 shares of the construction company's stock worth $1,625,000 after purchasing an additional 1,952 shares during the period. Hedge funds and other institutional investors own 6.45% of the company's stock.

About Comstock Holding Companies

Comstock Holding Companies, Inc operates as a real estate asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, DC region. The company acquires, develops, operates, and sells residential, commercial, and mixed-use properties. It also provides various asset and property management, development and construction management, and other real estate services to its asset-owning clients, which include primarily of institutional real estate investors, high net worth family offices, and governmental bodies.

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