Smith-Midland (NASDAQ:SMID) Trading Down 0.5% - Time to Sell?

Key Points

• Smith-Midland's stock price decreased by 0.5% to $36.91 amidst a trading volume that was 22% lower than the daily average.
• Wall Street analysts have upgraded Smith-Midland from a hold to a buy rating, indicating potential growth for the company.
• The company reported $0.62 earnings per share and $22.70 million in revenue, highlighting a net margin of 11.64% and a return on equity of 23.92%.

Smith-Midland Corp. (NASDAQ:SMID - Get Free Report)'s stock price was down 0.5% during mid-day trading on Tuesday . The stock traded as low as $35.98 and last traded at $36.91. Approximately 7,799 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 9,940 shares. The stock had previously closed at $37.11.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Smith-Midland from a "hold" rating to a "buy" rating in a report on Saturday, July 12th.

Smith-Midland Trading Up 3.0%

The company has a market capitalization of $197.96 million, a PE ratio of 20.19 and a beta of 1.66. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $33.79 and a 200-day simple moving average of $33.40.

Smith-Midland (NASDAQ:SMID - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The company reported $0.62 earnings per share for the quarter. Smith-Midland had a return on equity of 23.92% and a net margin of 11.64%. The business had revenue of $22.70 million during the quarter.

Hedge Funds Weigh In On Smith-Midland

Several hedge funds have recently bought and sold shares of SMID. BNP Paribas Financial Markets acquired a new position in Smith-Midland during the 4th quarter worth about $72,000. Wells Fargo & Company MN boosted its stake in shares of Smith-Midland by 61.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,235 shares of the company's stock valued at $99,000 after buying an additional 851 shares during the period. Rhumbline Advisers boosted its stake in shares of Smith-Midland by 9.6% in the 1st quarter. Rhumbline Advisers now owns 4,265 shares of the company's stock valued at $133,000 after buying an additional 372 shares during the period. GAMMA Investing LLC boosted its stake in shares of Smith-Midland by 39,258.3% in the 1st quarter. GAMMA Investing LLC now owns 4,723 shares of the company's stock valued at $152,000 after buying an additional 4,711 shares during the period. Finally, DAVENPORT & Co LLC purchased a new position in shares of Smith-Midland in the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 49.94% of the company's stock.

About Smith-Midland

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems in the United States. It offers SlenderWall lightweight construction panel, lightweight exterior cladding used for the exterior walls of buildings; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers, used on roadways to separate lanes of traffic in construction work zone or traffic control purposes; Easi-Set precast building and Easi-Span expandable precast buildings, used in housing communications operations, traffic control systems, and mechanical and electrical stations; Easi-Set utility, vaults for house equipment, such as cable, telephone, or traffic signal equipment, and for underground storage, as well as custom-built utility vaults for special needs; SoftSound soundwall panels, it absorb highway noise; Beach Prisms erosion control modules for seawalls and jetties; and H2Out secondary drainage systems for panelized exterior cladding.