Comstock Holding Companies, Inc. (NASDAQ:CHCI) Short Interest Up 348.5% in June

Comstock Holding Companies, Inc. (NASDAQ:CHCI) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 108,493 shares, an increase of 348.5% from the June 15th total of 24,189 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 65,774 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comstock Holding Companies in a research note on Wednesday, June 24th. Wall Street Zen lowered 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.com, Comstock Holding Companies has a consensus rating of “Hold”.

Insider Activity

In other news, COO Timothy Steffan sold 13,026 shares of Comstock Holding Companies stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $14.23, for a total value of $185,359.98. Following the transaction, the chief operating officer directly owned 122,741 shares of the company’s stock, valued at $1,746,604.43. The trade was a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 35.03% of the company’s stock.

Hedge Funds Weigh In On Comstock Holding Companies

A number of large investors have recently bought and sold shares of CHCI. State Street Corp boosted its holdings in shares of Comstock Holding Companies by 6.4% in the fourth quarter. State Street Corp now owns 16,721 shares of the construction company’s stock valued at $194,000 after acquiring an additional 1,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Comstock Holding Companies by 1.2% during the second 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in Comstock Holding Companies by 7.5% during the third quarter. Dimensional Fund Advisors LP now owns 38,775 shares of the construction company’s stock worth $543,000 after purchasing an additional 2,704 shares in the last quarter. NewEdge Advisors LLC lifted its position in Comstock Holding Companies by 23.5% in the fourth quarter. NewEdge Advisors LLC now owns 15,155 shares of the construction company’s stock valued at $176,000 after purchasing an additional 2,882 shares during the period. Finally, Barclays PLC lifted its position in Comstock Holding Companies by 437.7% in the fourth quarter. Barclays PLC now owns 3,839 shares of the construction company’s stock valued at $45,000 after purchasing an additional 3,125 shares during the period. Hedge funds and other institutional investors own 6.45% of the company’s stock.

Comstock Holding Companies Trading Up 5.2%

Comstock Holding Companies stock opened at $16.18 on Tuesday. The stock has a 50 day moving average of $15.80 and a two-hundred day moving average of $14.41. Comstock Holding Companies has a twelve month low of $10.14 and a twelve month high of $19.72. The stock has a market capitalization of $165.25 million, a price-to-earnings ratio of 9.35 and a beta of -0.43.

Comstock Holding Companies (NASDAQ:CHCI) last released its earnings results on Thursday, May 14th. The construction company reported $0.19 earnings per share (EPS) for the quarter. Comstock Holding Companies had a return on equity of 27.54% and a net margin of 25.79%.The business had revenue of $17.45 million for the quarter.

About Comstock Holding Companies

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.