Long Position on DFH @ $29.00 on 8/17/2023 (Momentum)

Dream Finders Homes, Inc. (DFH) operates as a holding company for Dream Finders Holdings LLC that engages in homebuilding business in the United States. Stockwinners

It designs, constructs, and sells single-family entry-level, and first-time and second time move-up homes in Charlotte, Raleigh, Jacksonville, Orlando, Denver, the Washington D.C. metropolitan area, Austin, Dallas, and Houston.

The company also provides insurance agency services, including closing, escrow, and title insurance, as well as mortgage banking solutions. It sells its homes through its sales representatives and independent real estate brokers. 

Shares have formed a bullish "flag" following it's latest earnings report. On August 3rd, DFH reported earnings of $0.65 per share on revenue of $945.34 million for the second quarter ended June 2023. The consensus earnings estimate was $0.32 per share on revenue of $666.68 million. The company beat consensus estimates by 103.13% while revenue grew 19.19% on a year-over-year basis. Higher share prices are expected. 

 

Entry Point: $29.00

Stop Loss: $27.25

Trading Range: $8.17 to $31.60

Target Price: $32.00 

Position closed on 8/27/2023 at price of $27.25 with a -6.03% loss in 10 days.

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