Short Interest in United Homes Group, Inc. (NASDAQ:UHG) Grows By 77.3%

Key Points

• Short interest in United Homes Group, Inc. surged by 77.3% in July, reaching 161,300 shares, which is approximately 2.1% of the company's stock.
• Key insiders, including major shareholder Patrick Michael Nieri and VP Pennington W. Nieri, significantly increased their holdings by purchasing over 66,000 shares at $2.00 each, enhancing their positions by approximately 20%.
• In institutional trading, hedge funds have been active, with notable increases in holdings, such as Dendur Capital boosting its position by 759.5% in the fourth quarter.

United Homes Group, Inc. (NASDAQ:UHG - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 161,300 shares, agrowthof77.3% from the July 15th total of 91,000 shares. Based on an average trading volume of 332,100 shares, the days-to-cover ratio is presently 0.5 days. Approximately2.1% of the shares of the company are sold short. Approximately2.1% of the shares of the company are sold short. Based on an average trading volume of 332,100 shares, the days-to-cover ratio is presently 0.5 days.

Insider Activity at United Homes Group

In other United Homes Group news, major shareholder Patrick Michael Nieri bought 33,330 shares of United Homes Group stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $2.00 per share, for a total transaction of $66,660.00. Following the purchase, the insider owned 197,801 shares of the company's stock, valued at $395,602. The trade was a 20.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Pennington W. Nieri bought 33,340 shares of United Homes Group stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average price of $2.00 per share, with a total value of $66,680.00. Following the completion of the purchase, the vice president directly owned 197,860 shares in the company, valued at $395,720. This trade represents a 20.27% increase in their position. The disclosure for this purchase can be found here. Insiders own 72.30% of the company's stock.

Hedge Funds Weigh In On United Homes Group

A number of large investors have recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of United Homes Group by 7.3% during the fourth quarter. Northern Trust Corp now owns 54,357 shares of the company's stock worth $230,000 after purchasing an additional 3,720 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of United Homes Group by 34.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,396 shares of the company's stock worth $66,000 after purchasing an additional 6,000 shares during the period. NewEdge Advisors LLC bought a new position in shares of United Homes Group during the second quarter worth approximately $29,000. JPMorgan Chase & Co. increased its stake in shares of United Homes Group by 116.9% during the fourth quarter. JPMorgan Chase & Co. now owns 19,521 shares of the company's stock worth $83,000 after purchasing an additional 10,523 shares during the period. Finally, Ground Swell Capital LLC bought a new position in shares of United Homes Group during the second quarter worth approximately $32,000. Institutional investors own 88.85% of the company's stock.

United Homes Group Stock Performance

Shares of NASDAQ UHG traded up $0.30 during midday trading on Friday, hitting $4.49. 137,015 shares of the company's stock were exchanged, compared to its average volume of 142,844. The company has a quick ratio of 1.64, a current ratio of 5.41 and a debt-to-equity ratio of 1.60. United Homes Group has a 12 month low of $1.60 and a 12 month high of $6.93. The company's 50 day moving average price is $3.64 and its 200 day moving average price is $3.19. The firm has a market capitalization of $264.01 million, a PE ratio of 74.83 and a beta of 1.22.

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

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.