View Future GrowthThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsHarbor Custom Development 過去の業績過去 基準チェック /06Harbor Custom Developmentの収益は年間平均-78.7%の割合で減少していますが、 Consumer Durables業界の収益は年間 増加しています。収益は年間2.7% 16.2%割合で 増加しています。主要情報-78.73%収益成長率-46.79%EPS成長率Consumer Durables 業界の成長24.52%収益成長率16.24%株主資本利益率-809.38%ネット・マージン-128.65%前回の決算情報31 Dec 2023最近の業績更新Reported Earnings • Aug 14Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: US$3.79 loss per share (improved from US$9.20 loss in 2Q 2022). Revenue: US$19.8m (up 93% from 2Q 2022). Net loss: US$6.28m (loss narrowed 2.6% from 2Q 2022). Revenue missed analyst estimates by 42%. Earnings per share (EPS) were also behind analyst expectations.お知らせ • Aug 03Harbor Custom Development, Inc. to Report Q2, 2023 Results on Aug 14, 2023Harbor Custom Development, Inc. announced that they will report Q2, 2023 results on Aug 14, 2023Reported Earnings • May 17First quarter 2023 earnings: EPS and revenues miss analyst expectationsFirst quarter 2023 results: US$9.39 loss per share (further deteriorated from US$0.56 loss in 1Q 2022). Revenue: US$9.18m (down 68% from 1Q 2022). Net loss: US$6.77m (loss widened US$6.40m from 1Q 2022). Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 72%.お知らせ • May 05Harbor Custom Development, Inc. to Report Q1, 2023 Results on May 15, 2023Harbor Custom Development, Inc. announced that they will report Q1, 2023 results at 12:30 PM, US Eastern Standard Time on May 15, 2023Reported Earnings • Nov 16Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: US$0.37 loss per share (down from US$0.21 profit in 3Q 2021). Revenue: US$11.7m (down 35% from 3Q 2021). Net loss: US$5.32m (down 273% from profit in 3Q 2021). Revenue missed analyst estimates by 30%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Consumer Durables industry in the US.Reported Earnings • Aug 16Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: US$0.46 loss per share (down from US$0.063 profit in 2Q 2021). Revenue: US$10.3m (down 27% from 2Q 2021). Net loss: US$6.45m (down US$7.38m from profit in 2Q 2021). Revenue missed analyst estimates by 70%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 83%, compared to a 4.2% growth forecast for the Consumer Durables industry in the US.すべての更新を表示Recent updatesお知らせ • May 09Harbor Custom Development Files Form 15Harbor Custom Development, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended.お知らせ • May 03Motion for Asset Sale Filed by Harbor Custom Development, Inc.Harbor Custom Development, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on May 1, 2024. The debtor seeks the Court’s approval for the sale of its certain assets to Richmond American Homes of Washington, Inc., for a purchase price of $2.58 million in cash pursuant to the asset purchase agreement, dated April 22, 2024. The debtor’s assets include real property consisting of approximately 27.92 acres of land located in Blaine, Whatcom County, Washington. The sale hearing is scheduled for May 29, 2024. The proceeds from the sale would be used to pay costs of sale, to pay secured real property taxes, and the balance to the secured indebtedness to Fratelli’s LLC.お知らせ • Feb 22Nasdaq Files Form 25-NSE with SEC to Remove Securities of Harbor Custom DevelopmentAs previously disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission on December 27, 2023, due to the Bankruptcy Petition, other pending matters, and in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, The Nasdaq Stock Market LLC suspended trading of Harbor Custom Development, Inc.'s securities on December 21, 2023. On December 21, 2023, the Company's securities began trading over the counter on the OTC Markets' Pink Current Information under the symbols HCDIQ," HCDPQ," HCDWQ," and HCDZQ." On February 15, 2024, Nasdaq filed a Form 25-NSE with the Commission which will remove all of the Company's securities from listing and registration on Nasdaq.お知らせ • Dec 21Harbor Custom Development, Inc.(OTCPK:HCDI.Q) dropped from NASDAQ Composite IndexHarbor Custom Development, Inc. has been dropped from Nasdaq Composite Index.お知らせ • Dec 16Nasdaq Determines Harbor Custom Development's Securities to be Delisted from The Nasdaq Stock MarketOn December 12, 2023, Harbor Custom Development, Inc. (the ‘Company’) received written notice from The Nasdaq Stock Market LLC (‘Nasdaq’) indicating that, following Nasdaq’s review of the Company’s press release related to the Bankruptcy Petition and other publicly available information, and in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, Nasdaq has determined that the Company’s securities will be delisted from The Nasdaq Stock Market. Trading of the Company’s common stock (HCDI), preferred stock (HCDIP), and two classes of warrants (HCDIW and HCDIZ) will be suspended at the opening of trading on December 21, 2023 and a Form 25-NSE will be filed with the Securities and Exchange Commission (the ‘SEC’) which will remove those securities from listing and registration on The Nasdaq Stock Market. Nasdaq based its determination upon concerns related to (i) the Company’s announcement that the Company filed for protection under Chapter 11 of the United States Bankruptcy Code and associated public interest concerns raised by such filing, (ii) the residual equity interest of the existing listed securities holders, and (iii) the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq. Nasdaq also noted that the Company no longer complied with Nasdaq’s audit committee requirements as set forth in Listing Rule 5605, which cure period to regain compliance was until the earlier of the Company’s next annual shareholders’ meeting or September 18, 2024; or if such shareholders’ meeting was held before March 18, 2024, then the Company must evidence compliance no later than March 18, 2024. The Nasdaq notice also advises the Company of its right to request an appeal of the determination. The Company does not have plans to pursue an appeal.お知らせ • Dec 15Harbor Custom Development, Inc.(NasdaqCM:HCDI) dropped from S&P TMI IndexHarbor Custom Development, Inc.(NasdaqCM:HCDI) dropped from S&P TMI Indexお知らせ • Dec 12+ 1 more updateMotion for Joint Administration Filed by Harbor Custom Development, Inc.Harbor Custom Development, Inc., along with its affiliates, filed a motion for joint administration of their Chapter 11 bankruptcy cases in the US Bankruptcy Court on December 11, 2023. As per the motion, the debtor seeks the joint administration of the cases of its affiliates, Belfair Apartments, LLC, HCDI at Semiahmoo LLC, Beacon Studio Farms LLC, HCDI Bridge View, LLC, HCDI FL Condo LLC, and Pacific Ridge CMS, LLC, with its own case for administrative and procedural purposes. Harbor Custom Development, Inc. has been proposed as the lead debtor.お知らせ • Nov 15Harbor Custom Development, Inc. Contemplates Bankruptcy.Harbor Custom Development, Inc. is contemplating filing for bankruptcy as of November 14, 2023. According to company's SEC filing, the Company failed to maintain compliance with certain financial covenants within its loan agreements requiring loan amendment or covenant waivers; it has no borrowing availability under its revolving credit facility; it has significant debt of $ 116.7 million maturing over the next 12 months as of September 30, 2023; it had significant uses of cash flows from operations over the past two years; it had a $ 16.9 million net loss during the year ended December 31, 2022, an $ 18.3 million net loss for the third quarter of 2023, and a net loss of $ 27.5 million for the nine months ended September 30, 2023; and the real estate and construction industries are experiencing declining market conditions which have negatively impacted property valuations as well as financing capabilities and terms.お知らせ • Sep 23+ 1 more updateHarbor Custom Development Receives Non-Compliance Notice From NasdaqOn September 22, 2023, Harbor Custom Development, Inc. received a notice (the “Notice”) from The Nasdaq Stock Market LLC (the “Nasdaq”) stating that, as a result of Mr. Walker’s resignation from the Board and the Audit Committee of the Board, the Company is no longer in compliance with Nasdaq Listing Rule 5605. The Notice indicates that, consistent with Nasdaq Listing Rule 5605(c)(4), Nasdaq will provide the Company a cure period in order to regain compliance until the earlier of the Company’s next annual meeting of stockholders (assuming the meeting is held before March 18, 2024) or September 18, 2024. In the event the Company does not regain compliance prior to the expiration of the applicable cure period, the Nasdaq Listing Rules require the Nasdaq’s Staff to provide written notification to the Company that its securities will be delisted. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Notice has no immediate effect on the Company’s Nasdaq listing and its common stock will continue to be listed.Reported Earnings • Aug 14Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: US$3.79 loss per share (improved from US$9.20 loss in 2Q 2022). Revenue: US$19.8m (up 93% from 2Q 2022). Net loss: US$6.28m (loss narrowed 2.6% from 2Q 2022). Revenue missed analyst estimates by 42%. Earnings per share (EPS) were also behind analyst expectations.お知らせ • Aug 03Harbor Custom Development, Inc. to Report Q2, 2023 Results on Aug 14, 2023Harbor Custom Development, Inc. announced that they will report Q2, 2023 results on Aug 14, 2023Board Change • Aug 01High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Larry Swets is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.お知らせ • Jul 21Harbor Custom Development, Inc. Promotes New Leadership TeamHarbor Custom Development, Inc. announced the internal promotion of four of the Companys leadership team, including Yoshi Niino, Kyla Sawtell, Mark Long, and Jennifer Lang. Yoshi Niino, Harbors Director of Accounting since 2022, was promoted to Chief Accounting Officer. Mr. Niino oversees accounting, SEC reporting, and tax for the Company. Mr. Niino has been essential in building the public company accounting, reporting, and internal control infrastructure. Mr. Niino has been a Certified Public Accountant since 2009. Ms. Sawtell, who served as the Companys Senior Director of Operations, was promoted to Vice President of Operations. Ms. Sawtell has 15 years of experience in the real estate, property management, and banking industries. Ms. Sawtell started with Harbor in 2021 and has been instrumental in developing the due diligence, budgeting, and purchasing procedures. Mark Long, Harbors Senior Director of Acquisitions and Construction, was promoted to Vice President of Development and Construction. With extensive experience in multi-family development, Mr. Long is involved in all aspects of the acquisitions and construction process. Mr. Long started with Harbor in 2021 and is essential to sourcing and assessing the Companys future pipeline of projects. Mr. Long is a registered architect in the state of Washington and New York. Jennifer Lang, who served as the Companys Director of Marketing, was promoted to Vice President of Marketing. Ms. Lang has 15 years of diverse marketing experience in the real estate, land development, residential construction, and publishing industries. Ms. Lang started with Harbor in 2021 as a consultant and has been significant in developing the Companys investor, media, and public relations to increase Harbors national brand awareness.お知らせ • Jul 14Harbor Custom Development, Inc. Approves the Appointment of D. David Chandler as DirectorHarbor Custom Development, Inc. at the AGM held on July 12, 2023, approved the appointment of D. David Chandler as Director.お知らせ • Jun 29Harbor Custom Development, Inc. Announces Executive Changes, Effective July 21, 2023On June 20, 2023, Lance Brown, principal financial officer, and principal accounting officer of Harbor Custom Development, Inc. notified the company of his decision to resign, effective at the close of business on July 21, 2023. Effective July 21, 2023 and until a successor has been identified, the company expects to promote Yoshi Niino to the position of Chief Accounting Officer. Upon assuming this role, he will also assume the duties of the company’s principal financial officer and principal accounting officer for Securities and Exchange Commission reporting purposes, until such time as it complete search process for a Chief Financial Officer. Mr. Niino joined the company in February 2022, and currently serves as the company’s Director of Accounting. Previously to joining the Company, Mr. Niino served as Senior Internal Audit Manager for Weyerhaeuser. Mr. Niino was also previously an Audit Manager at Deloitte. Mr. Niino is a Certified Public Accountant and graduated from the University of Washington with a B.A. in Economics and Business Administration, Accounting.お知らせ • Jun 27Harbor Custom Development, Inc. Announces Change in Executive Leadership, Effective July 21, 2023Harbor Custom Development, Inc. announced Lance Brown, Chief Financial Officer, will be resigning from the Company, effective July 21, 2023. Mr. Brown’s decision to resign does not relate to any disagreement with the Company’s management, the Board of Directors of the Company, or the Company’s independent auditors regarding any matter pertaining to the Company’s operations, accounting practices, financial disclosures, internal controls, policies, or practices. The Company has initiated a search for a new Chief Financial Officer to fill this position. The Company expects to promote Yoshi Niino, Harbor’s Director of Accounting since February 2022, to Chief Accounting Officer effective July 21, 2023. Upon assuming this role, Mr. Niino will execute the duties of the Company’s principal financial officer and principal accounting officer for Securities and Exchange Commission reporting purposes until the Company hires a new CFO. Prior to joining Harbor, Mr. Niino served as Senior Internal Audit Manager for Weyerhaeuser. Mr. Niino was also previously an Audit Manager at Deloitte. Mr. Niino is a Certified Public Accountant who graduated from the University of Washington with a B.A. in Economics and Business Administration, Accounting.お知らせ • Jun 21Kitsap Community Resources acquired Mills Crossing townhomes in Bremerton from Harbor Custom Development, Inc. (NasdaqCM:HCDI) for $14.25 million.Kitsap Community Resources acquired Mills Crossing townhomes in Bremerton from Harbor Custom Development, Inc. (NasdaqCM:HCDI) for $14.25 million on June 20, 2023. Kitsap Community Resources completed the acquisition of Mills Crossing townhomes in Bremerton from Harbor Custom Development, Inc. (NasdaqCM:HCDI) on June 20, 2023.New Risk • Jun 09New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 99% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$98m free cash flow). Share price has been highly volatile over the past 3 months (40% average weekly change). Earnings have declined by 68% per year over the past 5 years. Shareholders have been substantially diluted in the past year (99% increase in shares outstanding). Market cap is less than US$10m (US$5.43m market cap).お知らせ • May 31Harbor Custom Development, Inc., Annual General Meeting, Jul 12, 2023Harbor Custom Development, Inc., Annual General Meeting, Jul 12, 2023, at 10:00 Pacific Standard Time. Agenda: To consider and elect six directors to hold office until next AGM and until their successors are elected and qualified; To consider and discuss the appointment of Rosenberg Rich Baker Berman P.A. as independent registered public accounting firm; to consider and approve the compensation of our named executives officers during the fiscal year ended December 31, 2023; and to discuss other business matters.お知らせ • May 18Harbor Custom Development, Inc. has completed a Follow-on Equity Offering.Harbor Custom Development, Inc. has completed a Follow-on Equity Offering. Security Name: Common Stock Security Type: Common Stock Securities Offered: 1,951,218 Price\Range: $5.125 Discount Per Security: $0.3353 Security Name: Pre-Funded Warrants Security Type: Equity Warrant Securities Offered: 1,951,218 Security Name: Warrants Security Type: Equity Warrant Securities Offered: 1,951,218Reported Earnings • May 17First quarter 2023 earnings: EPS and revenues miss analyst expectationsFirst quarter 2023 results: US$9.39 loss per share (further deteriorated from US$0.56 loss in 1Q 2022). Revenue: US$9.18m (down 68% from 1Q 2022). Net loss: US$6.77m (loss widened US$6.40m from 1Q 2022). Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 72%.お知らせ • May 12+ 1 more updateHarbor Custom Development, Inc. Announces Management ChangesHarbor Custom Development, Inc. announced that Sterling Griffin, President and Chairman of the Board of Directors, will be retiring from all roles with the Company effective July 12, 2023. Mr. Griffin will serve as a non-executive strategic advisor through January 12, 2025. Jeff Habersetzer, who serves as Harbor’s Chief Operating Officer, General Counsel and Corporate Secretary, is expected to be named Interim President effective July 12, 2023. Mr. Habersetzer brings an extensive background in the real estate industry and previously owned a legal practice specializing in real estate and corporate law. In connection with the transition, the Company expects to appoint Lance Brown, Harbor’s Chief Financial Officer, to an expanded role as Interim Chief Operating Officer. Mr. Brown will maintain his current role as Chief Financial Officer and facilitate a smooth transition and continuity of operational leadership.お知らせ • May 05Harbor Custom Development, Inc. to Report Q1, 2023 Results on May 15, 2023Harbor Custom Development, Inc. announced that they will report Q1, 2023 results at 12:30 PM, US Eastern Standard Time on May 15, 2023分析記事 • Mar 01The Return Trends At Harbor Custom Development (NASDAQ:HCDI) Look PromisingIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Reported Earnings • Nov 16Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: US$0.37 loss per share (down from US$0.21 profit in 3Q 2021). Revenue: US$11.7m (down 35% from 3Q 2021). Net loss: US$5.32m (down 273% from profit in 3Q 2021). Revenue missed analyst estimates by 30%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Consumer Durables industry in the US.Board Change • Nov 16High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Chris Corr was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.分析記事 • Oct 29Investors Will Want Harbor Custom Development's (NASDAQ:HCDI) Growth In ROCE To PersistIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a...Reported Earnings • Aug 16Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: US$0.46 loss per share (down from US$0.063 profit in 2Q 2021). Revenue: US$10.3m (down 27% from 2Q 2021). Net loss: US$6.45m (down US$7.38m from profit in 2Q 2021). Revenue missed analyst estimates by 70%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 83%, compared to a 4.2% growth forecast for the Consumer Durables industry in the US.Seeking Alpha • Aug 15Harbor Custom Development GAAP EPS of -$0.46, revenue of $10.3MHarbor Custom Development press release (NASDAQ:HCDI): Q2 GAAP EPS of -$0.46. Revenue of $10.3M (-27.0% Y/Y). FY Outlook Revenue of approximately $80 million to $90 million compared to the previous target of approximately $160 million, and Adjusted EBITDA at or around break even compared to the previous target of approximately $20 million.Reported Earnings • May 13First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: US$0.028 loss per share (up from US$0.12 loss in 1Q 2021). Revenue: US$28.6m (up 106% from 1Q 2021). Net loss: US$366.7k (loss narrowed 76% from 1Q 2021). Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 200%.分析記事 • May 11Harbor Custom Development's (NASDAQ:HCDI) Solid Profits Have Weak FundamentalsDespite posting some strong earnings, the market for Harbor Custom Development, Inc.'s ( NASDAQ:HCDI ) stock hasn't...Valuation Update With 7 Day Price Move • May 03Investor sentiment improved over the past weekAfter last week's 30% share price gain to US$3.20, the stock trades at a forward P/E ratio of 107x. Average forward P/E is 8x in the Consumer Durables industry in the US. Total loss to shareholders of 4.8% over the past year.Board Change • Apr 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Chris Corr was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Apr 18High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Chris Corr was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Seeking Alpha • Apr 05Harbor Custom Development Preferred: A 13.1% YielderHCDI reported blowout profits in Q4, but has guided for slower EBITDA growth in 2022. Balance sheet cash has improved. The new BankUnited credit line will lower borrowing costs. Shift towards building multifamily projects due to rental housing shortage and elevated rents. HCDIP still yields 13.1% even though credit risk has decreased somewhat over the last few months.分析記事 • Dec 17Returns On Capital Are Showing Encouraging Signs At Harbor Custom Development (NASDAQ:HCDI)Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Valuation Update With 7 Day Price Move • Nov 25Investor sentiment improved over the past weekAfter last week's 18% share price gain to US$2.73, the stock trades at a trailing P/E ratio of 74.6x. Average trailing P/E is 11x in the Consumer Durables industry in the US. Total loss to shareholders of 38% over the past year.分析記事 • Nov 20Harbor Custom Development, Inc.'s (NASDAQ:HCDI) 28% Share Price Surge Not Quite Adding UpThose holding Harbor Custom Development, Inc. ( NASDAQ:HCDI ) shares would be relieved that the share price has...分析記事 • Nov 20Subdued Growth No Barrier To Harbor Custom Development, Inc. (NASDAQ:HCDI) With Shares Advancing 28%Those holding Harbor Custom Development, Inc. ( NASDAQ:HCDI ) shares would be relieved that the share price has...Recent Insider Transactions • Nov 20Independent Director recently bought US$54k worth of stockOn the 18th of November, Walter Walker bought around 24k shares on-market at roughly US$2.28 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$253k more in shares than they have sold in the last 12 months.Reported Earnings • Nov 19Third quarter 2021 earnings released: EPS US$0.21 (vs US$0.10 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$18.0m (up 131% from 3Q 2020). Net income: US$3.08m (up US$3.51m from 3Q 2020). Profit margin: 17% (up from net loss in 3Q 2020).Seeking Alpha • Nov 02Harbor Custom Development Preferred: A Speculative 13.2% Yielder In The Red Hot Housing SectorHCDI is a rapidly growing small home builder. HCDIP is a par $25 cumulative preferred convertible issue trading at only 61 cents on the dollar. HCDI turned profitable in Q2 and just pre-announced an expected Q3 profit of about $3.6 million. HCDIP is fully covered at par by net assets. HCDI should benefit from high inflation, soaring housing prices and changing commuter patterns due to Covid-19.Board Change • Sep 02High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Larry Swets is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Executive Departure • Sep 01Director Richard Schmidtke has left the companyOn the 27th of August, Richard Schmidtke's tenure as Director ended after 2.9 years in the role. As of June 2021, Richard still personally held 123.87k shares (US$401k worth at the time). A total of 3 executives have left over the last 12 months.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS US$0.063 (vs US$0.12 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$14.1m (up 70% from 2Q 2020). Net income: US$931.6k (up US$1.36m from 2Q 2020). Profit margin: 6.6% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue.Executive Departure • Jul 20Director Robb Kenyon has left the companyOn the 8th of July, Robb Kenyon's tenure as Director ended after 2.8 years in the role. As of March 2021, Robb still personally held 33.78k shares (US$107k worth at the time). A total of 2 executives have left over the last 12 months.お知らせ • Jul 01Harbor Custom Development, Inc. Provides Revenue Guidance for the Year 2022Harbor Custom Development, Inc. provided revenue guidance for the year 2022. The company projected revenues for 2022 follow the same growth trajectory with an estimated $128,000,000in sales, or a 60% annual increase.Reported Earnings • May 19First quarter 2021 earnings released: US$0.12 loss per share (vs US$0.21 loss in 1Q 2020)The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$13.9m (up 40% from 1Q 2020). Net loss: US$1.55m (loss widened 106% from 1Q 2020).Reported Earnings • Apr 02Full year 2020 earnings released: US$0.84 loss per share (vs US$0.067 profit in FY 2019)The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$50.4m (up 63% from FY 2019). Net loss: US$3.53m (down US$3.77m from profit in FY 2019).お知らせ • Mar 28Harbor Custom Development, Inc. Raises Revenue Guidance for 2021Harbor Custom Development, Inc. announced that it had raised its guidance for 2021 projected gross revenue from $70,000,000 announced on November 23, 2020 to $80,000,000.お知らせ • Mar 27Harbor Custom Development, Inc. Provides Financial Guidance for the Second Quarter of 2021Harbor Custom Development, Inc. provided financial guidance for the second quarter of 2021. The company projects to reach profitability in the second quarter of 2021.Valuation Update With 7 Day Price Move • Mar 16Investor sentiment improved over the past weekAfter last week's 18% share price gain to US$3.41, the stock trades at a trailing P/E ratio of 56.2x, up from the previous P/E ratio of 47.8x. Average P/E is 15x in the Consumer Durables industry in the US.お知らせ • Mar 10Harbor Custom Development Announces Retirement of Anita Fritz as Vice PresidentOn February 4, 2021, Anita Fritz retired from her position as Vice President of Harbor Custom Development, Inc.Is New 90 Day High Low • Mar 05New 90-day low: US$2.96The company is down 42% from its price of US$5.10 on 04 December 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 10.0% over the same period.Valuation Update With 7 Day Price Move • Feb 26Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to US$3.15, the stock is trading at a trailing P/E ratio of 51.9x, down from the previous P/E ratio of 61.3x. This compares to an average P/E of 14x in the Consumer Durables industry in the US.お知らせ • Feb 23Harbor Custom Development, Inc. Contracts to Sell 99 Lots in Soundview Estates to Lennar for $7,920,000Harbor Custom Development, Inc. announced that it has entered into a purchase and sale agreement with Lennar Northwest, Inc., a subsidiary of Lennar Corporation (“Lennar”), to sell 99 undeveloped lots in phase 7 of Soundview Estates in Bremerton, Washington for $7,920,000. The closing of the sale is scheduled for March 29, 2021. Harbor has now announced the completion of infrastructure improvements on 215 lots at Soundview Estates, of which Lennar purchased 165 lots for single-family home construction. Lennar also previously contracted to purchase 50 developed lots in phase 6 of Soundview Estates for $7,000,000 with a closing date of March 25, 2021. The combined first quarter scheduled sales to Lennar now total $14,920,000. With the addition of phase 7, Soundview Estates will grow to a 339-lot subdivision offering spectacular views of the Olympic Mountains, Mt. Rainier, the Seattle Skyline, and the Puget Sound. Soundview Estates is less than a ten-minute drive to the SeattleFerry and the Kitsap Naval Shipyard.Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improved over the past weekAfter last week's 22% share price gain to US$3.95, the stock is trading at a trailing P/E ratio of 65.1x, up from the previous P/E ratio of 53.4x. This compares to an average P/E of 16x in the Consumer Durables industry in the US.お知らせ • Feb 05Harbor Custom Development, Inc. Closes on 36 Lots in the Sacramento Metro MarketHarbor Custom Development, Inc. announced that on January 29, 2021, it closed on 36 of the 66 contracted developed lots in the Darkhorse Golf Course community 33 miles northeast of Sacramento in Auburn, California for $4,900,000. The Darkhorse Golf Course lots average a half acre in size and provide scenic views of the beautiful four-star rated course and hill country setting. Harbor Custom Homes® anticipates commencing construction of 4 and 5 bedroom luxury homes priced from $900,000 to $1,200,000 beginning in the second quarter of 2021. The 36 lot acquisition marks Harbor’s initial expansion outside of Washington State as it begins to execute its previously stated plan to create a national footprint in metropolitan areas exhibiting increasing demand along with dwindling supply.お知らせ • Jan 28Harbor Custom Development, Inc. Increases Footprint in Sacramento Metro Housing MarketHarbor Custom Development, Inc. announced that it has contracted to acquire 22 developed lots in Rocklin, California for $3,944,050. Located just over 21 miles from downtown Sacramento, the Rocklin subdivision will offer single family homes ranging in size from 2,300 to 2,800 square feet and priced from $700,000 to $850,000. Situated adjacent to Quarry Park, the adventure park provides home buyers access to a variety of outdoor recreational activities. Harbor Custom Homes® anticipates commencing construction of the four and five bedroom homes in the second quarter of 2021.Recent Insider Transactions • Jan 21Independent Director recently bought US$105k worth of stockOn the 15th of January, Larry Swets bought around 35k shares on-market at roughly US$3.00 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.お知らせ • Jan 14Harbor Custom Development, Inc. has completed a Follow-on Equity Offering in the amount of $24 million.Harbor Custom Development, Inc. has completed a Follow-on Equity Offering in the amount of $24 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 8,000,000 Price\Range: $3 Discount Per Security: $0.21Valuation Update With 7 Day Price Move • Jan 12Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to US$3.63, the stock is trading at a trailing P/E ratio of 59.8x, down from the previous P/E ratio of 71.2x. This compares to an average P/E of 15x in the Consumer Durables industry in the US.Is New 90 Day High Low • Jan 12New 90-day low: US$3.63The company is down 30% from its price of US$5.15 on 13 October 2020. The American market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is down 5.0% over the same period.お知らせ • Dec 26Harbor Custom Development, Inc. Announces the Phase 5 Sale of 38 Residential Lots At Soundview Estates in Bremerton, Washington to Lennar Northwest, IncOn December 22, 2020, Harbor Custom Development, Inc. announced that it has closed on the phase 5 sale of 38 residential lots at Soundview Estates in Bremerton, Washington to Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (“Lennar”) for $4,750,000, and has contracted to sell Lennar an additional 50 lots in Phase 6. Harbor has announced the completion of infrastructure improvements on 190 lots at Soundview Estates, of which 165 were purchased by Lennar for single family home construction. Lennar had previously closed on phases 1, 2, and 3 totaling 127 lots during the last 12 months.お知らせ • Dec 01Harbor Custom Development, Inc. Announces Resignation of Robb Kenyon as Member of Board’S Compensation Committee and Nominating and Corporate Governance CommitteeEffective as of November 25, 2020, Mr. Robb Kenyon resigned as a member of the Board’s Compensation Committee and Nominating and Corporate Governance Committee. Mr. Kenyon’s resignation from the respective committees was not due to any disagreement with the Harbor Custom Development, Inc. on any matter relating to its operations, policies or practices. Mr. Kenyon remains a director on the Company’s Board of Directors. Effective as of November 25, 2020, Mr. Wally Walker, an independent director, was appointed to the Board's Compensation Committee and Nominating and Corporate Governance Committee to fill the vacancies created by Mr. Kenyon's resignation from the aforementioned committees. The Board's Compensation Committee and Nominating and Corporate Governance Committee now have a majority of independent directors in compliance with the Nasdaq rules as the Company is in the phase-in period.収支内訳Harbor Custom Development の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史OTCPK:HCDI.Q 収益、費用、利益 ( )USD Millions日付収益収益G+A経費研究開発費31 Dec 2359-7610030 Sep 2339-4612030 Jun 2346-3114031 Mar 2336-3115031 Dec 2255-2516030 Sep 2277-816030 Jun 2283014031 Mar 2287713031 Dec 2172611030 Sep 217019030 Jun 2160-37031 Mar 2154-47031 Dec 2050-45030 Sep 203905030 Jun 203804031 Mar 203704031 Dec 193103030 Sep 1918-34031 Dec 186-13031 Dec 179110質の高い収益: HCDI.Qは現在利益が出ていません。利益率の向上: HCDI.Qは現在利益が出ていません。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: HCDI.Qは利益が出ておらず、過去 5 年間で損失は年間78.7%の割合で増加しています。成長の加速: HCDI.Qの過去 1 年間の収益成長を 5 年間の平均と比較することはできません。現在は利益が出ていないためです。収益対業界: HCDI.Qは利益が出ていないため、過去 1 年間の収益成長をConsumer Durables業界 ( -20% ) と比較することは困難です。株主資本利益率高いROE: HCDI.Qは現在利益が出ていないため、自己資本利益率 ( -809.38% ) はマイナスです。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YConsumer-durables 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2024/08/01 23:08終値2024/08/01 00:00収益2023/12/31年間収益2023/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Harbor Custom Development, Inc. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Ashok KumarThinkEquity LLCThomas KerrZacks Small-Cap Research
Reported Earnings • Aug 14Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: US$3.79 loss per share (improved from US$9.20 loss in 2Q 2022). Revenue: US$19.8m (up 93% from 2Q 2022). Net loss: US$6.28m (loss narrowed 2.6% from 2Q 2022). Revenue missed analyst estimates by 42%. Earnings per share (EPS) were also behind analyst expectations.
お知らせ • Aug 03Harbor Custom Development, Inc. to Report Q2, 2023 Results on Aug 14, 2023Harbor Custom Development, Inc. announced that they will report Q2, 2023 results on Aug 14, 2023
Reported Earnings • May 17First quarter 2023 earnings: EPS and revenues miss analyst expectationsFirst quarter 2023 results: US$9.39 loss per share (further deteriorated from US$0.56 loss in 1Q 2022). Revenue: US$9.18m (down 68% from 1Q 2022). Net loss: US$6.77m (loss widened US$6.40m from 1Q 2022). Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 72%.
お知らせ • May 05Harbor Custom Development, Inc. to Report Q1, 2023 Results on May 15, 2023Harbor Custom Development, Inc. announced that they will report Q1, 2023 results at 12:30 PM, US Eastern Standard Time on May 15, 2023
Reported Earnings • Nov 16Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: US$0.37 loss per share (down from US$0.21 profit in 3Q 2021). Revenue: US$11.7m (down 35% from 3Q 2021). Net loss: US$5.32m (down 273% from profit in 3Q 2021). Revenue missed analyst estimates by 30%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Consumer Durables industry in the US.
Reported Earnings • Aug 16Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: US$0.46 loss per share (down from US$0.063 profit in 2Q 2021). Revenue: US$10.3m (down 27% from 2Q 2021). Net loss: US$6.45m (down US$7.38m from profit in 2Q 2021). Revenue missed analyst estimates by 70%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 83%, compared to a 4.2% growth forecast for the Consumer Durables industry in the US.
お知らせ • May 09Harbor Custom Development Files Form 15Harbor Custom Development, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended.
お知らせ • May 03Motion for Asset Sale Filed by Harbor Custom Development, Inc.Harbor Custom Development, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on May 1, 2024. The debtor seeks the Court’s approval for the sale of its certain assets to Richmond American Homes of Washington, Inc., for a purchase price of $2.58 million in cash pursuant to the asset purchase agreement, dated April 22, 2024. The debtor’s assets include real property consisting of approximately 27.92 acres of land located in Blaine, Whatcom County, Washington. The sale hearing is scheduled for May 29, 2024. The proceeds from the sale would be used to pay costs of sale, to pay secured real property taxes, and the balance to the secured indebtedness to Fratelli’s LLC.
お知らせ • Feb 22Nasdaq Files Form 25-NSE with SEC to Remove Securities of Harbor Custom DevelopmentAs previously disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission on December 27, 2023, due to the Bankruptcy Petition, other pending matters, and in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, The Nasdaq Stock Market LLC suspended trading of Harbor Custom Development, Inc.'s securities on December 21, 2023. On December 21, 2023, the Company's securities began trading over the counter on the OTC Markets' Pink Current Information under the symbols HCDIQ," HCDPQ," HCDWQ," and HCDZQ." On February 15, 2024, Nasdaq filed a Form 25-NSE with the Commission which will remove all of the Company's securities from listing and registration on Nasdaq.
お知らせ • Dec 21Harbor Custom Development, Inc.(OTCPK:HCDI.Q) dropped from NASDAQ Composite IndexHarbor Custom Development, Inc. has been dropped from Nasdaq Composite Index.
お知らせ • Dec 16Nasdaq Determines Harbor Custom Development's Securities to be Delisted from The Nasdaq Stock MarketOn December 12, 2023, Harbor Custom Development, Inc. (the ‘Company’) received written notice from The Nasdaq Stock Market LLC (‘Nasdaq’) indicating that, following Nasdaq’s review of the Company’s press release related to the Bankruptcy Petition and other publicly available information, and in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, Nasdaq has determined that the Company’s securities will be delisted from The Nasdaq Stock Market. Trading of the Company’s common stock (HCDI), preferred stock (HCDIP), and two classes of warrants (HCDIW and HCDIZ) will be suspended at the opening of trading on December 21, 2023 and a Form 25-NSE will be filed with the Securities and Exchange Commission (the ‘SEC’) which will remove those securities from listing and registration on The Nasdaq Stock Market. Nasdaq based its determination upon concerns related to (i) the Company’s announcement that the Company filed for protection under Chapter 11 of the United States Bankruptcy Code and associated public interest concerns raised by such filing, (ii) the residual equity interest of the existing listed securities holders, and (iii) the Company’s ability to sustain compliance with all requirements for continued listing on Nasdaq. Nasdaq also noted that the Company no longer complied with Nasdaq’s audit committee requirements as set forth in Listing Rule 5605, which cure period to regain compliance was until the earlier of the Company’s next annual shareholders’ meeting or September 18, 2024; or if such shareholders’ meeting was held before March 18, 2024, then the Company must evidence compliance no later than March 18, 2024. The Nasdaq notice also advises the Company of its right to request an appeal of the determination. The Company does not have plans to pursue an appeal.
お知らせ • Dec 15Harbor Custom Development, Inc.(NasdaqCM:HCDI) dropped from S&P TMI IndexHarbor Custom Development, Inc.(NasdaqCM:HCDI) dropped from S&P TMI Index
お知らせ • Dec 12+ 1 more updateMotion for Joint Administration Filed by Harbor Custom Development, Inc.Harbor Custom Development, Inc., along with its affiliates, filed a motion for joint administration of their Chapter 11 bankruptcy cases in the US Bankruptcy Court on December 11, 2023. As per the motion, the debtor seeks the joint administration of the cases of its affiliates, Belfair Apartments, LLC, HCDI at Semiahmoo LLC, Beacon Studio Farms LLC, HCDI Bridge View, LLC, HCDI FL Condo LLC, and Pacific Ridge CMS, LLC, with its own case for administrative and procedural purposes. Harbor Custom Development, Inc. has been proposed as the lead debtor.
お知らせ • Nov 15Harbor Custom Development, Inc. Contemplates Bankruptcy.Harbor Custom Development, Inc. is contemplating filing for bankruptcy as of November 14, 2023. According to company's SEC filing, the Company failed to maintain compliance with certain financial covenants within its loan agreements requiring loan amendment or covenant waivers; it has no borrowing availability under its revolving credit facility; it has significant debt of $ 116.7 million maturing over the next 12 months as of September 30, 2023; it had significant uses of cash flows from operations over the past two years; it had a $ 16.9 million net loss during the year ended December 31, 2022, an $ 18.3 million net loss for the third quarter of 2023, and a net loss of $ 27.5 million for the nine months ended September 30, 2023; and the real estate and construction industries are experiencing declining market conditions which have negatively impacted property valuations as well as financing capabilities and terms.
お知らせ • Sep 23+ 1 more updateHarbor Custom Development Receives Non-Compliance Notice From NasdaqOn September 22, 2023, Harbor Custom Development, Inc. received a notice (the “Notice”) from The Nasdaq Stock Market LLC (the “Nasdaq”) stating that, as a result of Mr. Walker’s resignation from the Board and the Audit Committee of the Board, the Company is no longer in compliance with Nasdaq Listing Rule 5605. The Notice indicates that, consistent with Nasdaq Listing Rule 5605(c)(4), Nasdaq will provide the Company a cure period in order to regain compliance until the earlier of the Company’s next annual meeting of stockholders (assuming the meeting is held before March 18, 2024) or September 18, 2024. In the event the Company does not regain compliance prior to the expiration of the applicable cure period, the Nasdaq Listing Rules require the Nasdaq’s Staff to provide written notification to the Company that its securities will be delisted. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Notice has no immediate effect on the Company’s Nasdaq listing and its common stock will continue to be listed.
Reported Earnings • Aug 14Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: US$3.79 loss per share (improved from US$9.20 loss in 2Q 2022). Revenue: US$19.8m (up 93% from 2Q 2022). Net loss: US$6.28m (loss narrowed 2.6% from 2Q 2022). Revenue missed analyst estimates by 42%. Earnings per share (EPS) were also behind analyst expectations.
お知らせ • Aug 03Harbor Custom Development, Inc. to Report Q2, 2023 Results on Aug 14, 2023Harbor Custom Development, Inc. announced that they will report Q2, 2023 results on Aug 14, 2023
Board Change • Aug 01High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Larry Swets is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
お知らせ • Jul 21Harbor Custom Development, Inc. Promotes New Leadership TeamHarbor Custom Development, Inc. announced the internal promotion of four of the Companys leadership team, including Yoshi Niino, Kyla Sawtell, Mark Long, and Jennifer Lang. Yoshi Niino, Harbors Director of Accounting since 2022, was promoted to Chief Accounting Officer. Mr. Niino oversees accounting, SEC reporting, and tax for the Company. Mr. Niino has been essential in building the public company accounting, reporting, and internal control infrastructure. Mr. Niino has been a Certified Public Accountant since 2009. Ms. Sawtell, who served as the Companys Senior Director of Operations, was promoted to Vice President of Operations. Ms. Sawtell has 15 years of experience in the real estate, property management, and banking industries. Ms. Sawtell started with Harbor in 2021 and has been instrumental in developing the due diligence, budgeting, and purchasing procedures. Mark Long, Harbors Senior Director of Acquisitions and Construction, was promoted to Vice President of Development and Construction. With extensive experience in multi-family development, Mr. Long is involved in all aspects of the acquisitions and construction process. Mr. Long started with Harbor in 2021 and is essential to sourcing and assessing the Companys future pipeline of projects. Mr. Long is a registered architect in the state of Washington and New York. Jennifer Lang, who served as the Companys Director of Marketing, was promoted to Vice President of Marketing. Ms. Lang has 15 years of diverse marketing experience in the real estate, land development, residential construction, and publishing industries. Ms. Lang started with Harbor in 2021 as a consultant and has been significant in developing the Companys investor, media, and public relations to increase Harbors national brand awareness.
お知らせ • Jul 14Harbor Custom Development, Inc. Approves the Appointment of D. David Chandler as DirectorHarbor Custom Development, Inc. at the AGM held on July 12, 2023, approved the appointment of D. David Chandler as Director.
お知らせ • Jun 29Harbor Custom Development, Inc. Announces Executive Changes, Effective July 21, 2023On June 20, 2023, Lance Brown, principal financial officer, and principal accounting officer of Harbor Custom Development, Inc. notified the company of his decision to resign, effective at the close of business on July 21, 2023. Effective July 21, 2023 and until a successor has been identified, the company expects to promote Yoshi Niino to the position of Chief Accounting Officer. Upon assuming this role, he will also assume the duties of the company’s principal financial officer and principal accounting officer for Securities and Exchange Commission reporting purposes, until such time as it complete search process for a Chief Financial Officer. Mr. Niino joined the company in February 2022, and currently serves as the company’s Director of Accounting. Previously to joining the Company, Mr. Niino served as Senior Internal Audit Manager for Weyerhaeuser. Mr. Niino was also previously an Audit Manager at Deloitte. Mr. Niino is a Certified Public Accountant and graduated from the University of Washington with a B.A. in Economics and Business Administration, Accounting.
お知らせ • Jun 27Harbor Custom Development, Inc. Announces Change in Executive Leadership, Effective July 21, 2023Harbor Custom Development, Inc. announced Lance Brown, Chief Financial Officer, will be resigning from the Company, effective July 21, 2023. Mr. Brown’s decision to resign does not relate to any disagreement with the Company’s management, the Board of Directors of the Company, or the Company’s independent auditors regarding any matter pertaining to the Company’s operations, accounting practices, financial disclosures, internal controls, policies, or practices. The Company has initiated a search for a new Chief Financial Officer to fill this position. The Company expects to promote Yoshi Niino, Harbor’s Director of Accounting since February 2022, to Chief Accounting Officer effective July 21, 2023. Upon assuming this role, Mr. Niino will execute the duties of the Company’s principal financial officer and principal accounting officer for Securities and Exchange Commission reporting purposes until the Company hires a new CFO. Prior to joining Harbor, Mr. Niino served as Senior Internal Audit Manager for Weyerhaeuser. Mr. Niino was also previously an Audit Manager at Deloitte. Mr. Niino is a Certified Public Accountant who graduated from the University of Washington with a B.A. in Economics and Business Administration, Accounting.
お知らせ • Jun 21Kitsap Community Resources acquired Mills Crossing townhomes in Bremerton from Harbor Custom Development, Inc. (NasdaqCM:HCDI) for $14.25 million.Kitsap Community Resources acquired Mills Crossing townhomes in Bremerton from Harbor Custom Development, Inc. (NasdaqCM:HCDI) for $14.25 million on June 20, 2023. Kitsap Community Resources completed the acquisition of Mills Crossing townhomes in Bremerton from Harbor Custom Development, Inc. (NasdaqCM:HCDI) on June 20, 2023.
New Risk • Jun 09New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 99% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$98m free cash flow). Share price has been highly volatile over the past 3 months (40% average weekly change). Earnings have declined by 68% per year over the past 5 years. Shareholders have been substantially diluted in the past year (99% increase in shares outstanding). Market cap is less than US$10m (US$5.43m market cap).
お知らせ • May 31Harbor Custom Development, Inc., Annual General Meeting, Jul 12, 2023Harbor Custom Development, Inc., Annual General Meeting, Jul 12, 2023, at 10:00 Pacific Standard Time. Agenda: To consider and elect six directors to hold office until next AGM and until their successors are elected and qualified; To consider and discuss the appointment of Rosenberg Rich Baker Berman P.A. as independent registered public accounting firm; to consider and approve the compensation of our named executives officers during the fiscal year ended December 31, 2023; and to discuss other business matters.
お知らせ • May 18Harbor Custom Development, Inc. has completed a Follow-on Equity Offering.Harbor Custom Development, Inc. has completed a Follow-on Equity Offering. Security Name: Common Stock Security Type: Common Stock Securities Offered: 1,951,218 Price\Range: $5.125 Discount Per Security: $0.3353 Security Name: Pre-Funded Warrants Security Type: Equity Warrant Securities Offered: 1,951,218 Security Name: Warrants Security Type: Equity Warrant Securities Offered: 1,951,218
Reported Earnings • May 17First quarter 2023 earnings: EPS and revenues miss analyst expectationsFirst quarter 2023 results: US$9.39 loss per share (further deteriorated from US$0.56 loss in 1Q 2022). Revenue: US$9.18m (down 68% from 1Q 2022). Net loss: US$6.77m (loss widened US$6.40m from 1Q 2022). Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 72%.
お知らせ • May 12+ 1 more updateHarbor Custom Development, Inc. Announces Management ChangesHarbor Custom Development, Inc. announced that Sterling Griffin, President and Chairman of the Board of Directors, will be retiring from all roles with the Company effective July 12, 2023. Mr. Griffin will serve as a non-executive strategic advisor through January 12, 2025. Jeff Habersetzer, who serves as Harbor’s Chief Operating Officer, General Counsel and Corporate Secretary, is expected to be named Interim President effective July 12, 2023. Mr. Habersetzer brings an extensive background in the real estate industry and previously owned a legal practice specializing in real estate and corporate law. In connection with the transition, the Company expects to appoint Lance Brown, Harbor’s Chief Financial Officer, to an expanded role as Interim Chief Operating Officer. Mr. Brown will maintain his current role as Chief Financial Officer and facilitate a smooth transition and continuity of operational leadership.
お知らせ • May 05Harbor Custom Development, Inc. to Report Q1, 2023 Results on May 15, 2023Harbor Custom Development, Inc. announced that they will report Q1, 2023 results at 12:30 PM, US Eastern Standard Time on May 15, 2023
分析記事 • Mar 01The Return Trends At Harbor Custom Development (NASDAQ:HCDI) Look PromisingIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Reported Earnings • Nov 16Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: US$0.37 loss per share (down from US$0.21 profit in 3Q 2021). Revenue: US$11.7m (down 35% from 3Q 2021). Net loss: US$5.32m (down 273% from profit in 3Q 2021). Revenue missed analyst estimates by 30%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Consumer Durables industry in the US.
Board Change • Nov 16High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Chris Corr was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
分析記事 • Oct 29Investors Will Want Harbor Custom Development's (NASDAQ:HCDI) Growth In ROCE To PersistIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a...
Reported Earnings • Aug 16Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: US$0.46 loss per share (down from US$0.063 profit in 2Q 2021). Revenue: US$10.3m (down 27% from 2Q 2021). Net loss: US$6.45m (down US$7.38m from profit in 2Q 2021). Revenue missed analyst estimates by 70%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 83%, compared to a 4.2% growth forecast for the Consumer Durables industry in the US.
Seeking Alpha • Aug 15Harbor Custom Development GAAP EPS of -$0.46, revenue of $10.3MHarbor Custom Development press release (NASDAQ:HCDI): Q2 GAAP EPS of -$0.46. Revenue of $10.3M (-27.0% Y/Y). FY Outlook Revenue of approximately $80 million to $90 million compared to the previous target of approximately $160 million, and Adjusted EBITDA at or around break even compared to the previous target of approximately $20 million.
Reported Earnings • May 13First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: US$0.028 loss per share (up from US$0.12 loss in 1Q 2021). Revenue: US$28.6m (up 106% from 1Q 2021). Net loss: US$366.7k (loss narrowed 76% from 1Q 2021). Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 200%.
分析記事 • May 11Harbor Custom Development's (NASDAQ:HCDI) Solid Profits Have Weak FundamentalsDespite posting some strong earnings, the market for Harbor Custom Development, Inc.'s ( NASDAQ:HCDI ) stock hasn't...
Valuation Update With 7 Day Price Move • May 03Investor sentiment improved over the past weekAfter last week's 30% share price gain to US$3.20, the stock trades at a forward P/E ratio of 107x. Average forward P/E is 8x in the Consumer Durables industry in the US. Total loss to shareholders of 4.8% over the past year.
Board Change • Apr 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Chris Corr was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Apr 18High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Chris Corr was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Seeking Alpha • Apr 05Harbor Custom Development Preferred: A 13.1% YielderHCDI reported blowout profits in Q4, but has guided for slower EBITDA growth in 2022. Balance sheet cash has improved. The new BankUnited credit line will lower borrowing costs. Shift towards building multifamily projects due to rental housing shortage and elevated rents. HCDIP still yields 13.1% even though credit risk has decreased somewhat over the last few months.
分析記事 • Dec 17Returns On Capital Are Showing Encouraging Signs At Harbor Custom Development (NASDAQ:HCDI)Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Valuation Update With 7 Day Price Move • Nov 25Investor sentiment improved over the past weekAfter last week's 18% share price gain to US$2.73, the stock trades at a trailing P/E ratio of 74.6x. Average trailing P/E is 11x in the Consumer Durables industry in the US. Total loss to shareholders of 38% over the past year.
分析記事 • Nov 20Harbor Custom Development, Inc.'s (NASDAQ:HCDI) 28% Share Price Surge Not Quite Adding UpThose holding Harbor Custom Development, Inc. ( NASDAQ:HCDI ) shares would be relieved that the share price has...
分析記事 • Nov 20Subdued Growth No Barrier To Harbor Custom Development, Inc. (NASDAQ:HCDI) With Shares Advancing 28%Those holding Harbor Custom Development, Inc. ( NASDAQ:HCDI ) shares would be relieved that the share price has...
Recent Insider Transactions • Nov 20Independent Director recently bought US$54k worth of stockOn the 18th of November, Walter Walker bought around 24k shares on-market at roughly US$2.28 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$253k more in shares than they have sold in the last 12 months.
Reported Earnings • Nov 19Third quarter 2021 earnings released: EPS US$0.21 (vs US$0.10 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$18.0m (up 131% from 3Q 2020). Net income: US$3.08m (up US$3.51m from 3Q 2020). Profit margin: 17% (up from net loss in 3Q 2020).
Seeking Alpha • Nov 02Harbor Custom Development Preferred: A Speculative 13.2% Yielder In The Red Hot Housing SectorHCDI is a rapidly growing small home builder. HCDIP is a par $25 cumulative preferred convertible issue trading at only 61 cents on the dollar. HCDI turned profitable in Q2 and just pre-announced an expected Q3 profit of about $3.6 million. HCDIP is fully covered at par by net assets. HCDI should benefit from high inflation, soaring housing prices and changing commuter patterns due to Covid-19.
Board Change • Sep 02High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Larry Swets is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Executive Departure • Sep 01Director Richard Schmidtke has left the companyOn the 27th of August, Richard Schmidtke's tenure as Director ended after 2.9 years in the role. As of June 2021, Richard still personally held 123.87k shares (US$401k worth at the time). A total of 3 executives have left over the last 12 months.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS US$0.063 (vs US$0.12 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$14.1m (up 70% from 2Q 2020). Net income: US$931.6k (up US$1.36m from 2Q 2020). Profit margin: 6.6% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue.
Executive Departure • Jul 20Director Robb Kenyon has left the companyOn the 8th of July, Robb Kenyon's tenure as Director ended after 2.8 years in the role. As of March 2021, Robb still personally held 33.78k shares (US$107k worth at the time). A total of 2 executives have left over the last 12 months.
お知らせ • Jul 01Harbor Custom Development, Inc. Provides Revenue Guidance for the Year 2022Harbor Custom Development, Inc. provided revenue guidance for the year 2022. The company projected revenues for 2022 follow the same growth trajectory with an estimated $128,000,000in sales, or a 60% annual increase.
Reported Earnings • May 19First quarter 2021 earnings released: US$0.12 loss per share (vs US$0.21 loss in 1Q 2020)The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$13.9m (up 40% from 1Q 2020). Net loss: US$1.55m (loss widened 106% from 1Q 2020).
Reported Earnings • Apr 02Full year 2020 earnings released: US$0.84 loss per share (vs US$0.067 profit in FY 2019)The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$50.4m (up 63% from FY 2019). Net loss: US$3.53m (down US$3.77m from profit in FY 2019).
お知らせ • Mar 28Harbor Custom Development, Inc. Raises Revenue Guidance for 2021Harbor Custom Development, Inc. announced that it had raised its guidance for 2021 projected gross revenue from $70,000,000 announced on November 23, 2020 to $80,000,000.
お知らせ • Mar 27Harbor Custom Development, Inc. Provides Financial Guidance for the Second Quarter of 2021Harbor Custom Development, Inc. provided financial guidance for the second quarter of 2021. The company projects to reach profitability in the second quarter of 2021.
Valuation Update With 7 Day Price Move • Mar 16Investor sentiment improved over the past weekAfter last week's 18% share price gain to US$3.41, the stock trades at a trailing P/E ratio of 56.2x, up from the previous P/E ratio of 47.8x. Average P/E is 15x in the Consumer Durables industry in the US.
お知らせ • Mar 10Harbor Custom Development Announces Retirement of Anita Fritz as Vice PresidentOn February 4, 2021, Anita Fritz retired from her position as Vice President of Harbor Custom Development, Inc.
Is New 90 Day High Low • Mar 05New 90-day low: US$2.96The company is down 42% from its price of US$5.10 on 04 December 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 10.0% over the same period.
Valuation Update With 7 Day Price Move • Feb 26Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to US$3.15, the stock is trading at a trailing P/E ratio of 51.9x, down from the previous P/E ratio of 61.3x. This compares to an average P/E of 14x in the Consumer Durables industry in the US.
お知らせ • Feb 23Harbor Custom Development, Inc. Contracts to Sell 99 Lots in Soundview Estates to Lennar for $7,920,000Harbor Custom Development, Inc. announced that it has entered into a purchase and sale agreement with Lennar Northwest, Inc., a subsidiary of Lennar Corporation (“Lennar”), to sell 99 undeveloped lots in phase 7 of Soundview Estates in Bremerton, Washington for $7,920,000. The closing of the sale is scheduled for March 29, 2021. Harbor has now announced the completion of infrastructure improvements on 215 lots at Soundview Estates, of which Lennar purchased 165 lots for single-family home construction. Lennar also previously contracted to purchase 50 developed lots in phase 6 of Soundview Estates for $7,000,000 with a closing date of March 25, 2021. The combined first quarter scheduled sales to Lennar now total $14,920,000. With the addition of phase 7, Soundview Estates will grow to a 339-lot subdivision offering spectacular views of the Olympic Mountains, Mt. Rainier, the Seattle Skyline, and the Puget Sound. Soundview Estates is less than a ten-minute drive to the SeattleFerry and the Kitsap Naval Shipyard.
Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improved over the past weekAfter last week's 22% share price gain to US$3.95, the stock is trading at a trailing P/E ratio of 65.1x, up from the previous P/E ratio of 53.4x. This compares to an average P/E of 16x in the Consumer Durables industry in the US.
お知らせ • Feb 05Harbor Custom Development, Inc. Closes on 36 Lots in the Sacramento Metro MarketHarbor Custom Development, Inc. announced that on January 29, 2021, it closed on 36 of the 66 contracted developed lots in the Darkhorse Golf Course community 33 miles northeast of Sacramento in Auburn, California for $4,900,000. The Darkhorse Golf Course lots average a half acre in size and provide scenic views of the beautiful four-star rated course and hill country setting. Harbor Custom Homes® anticipates commencing construction of 4 and 5 bedroom luxury homes priced from $900,000 to $1,200,000 beginning in the second quarter of 2021. The 36 lot acquisition marks Harbor’s initial expansion outside of Washington State as it begins to execute its previously stated plan to create a national footprint in metropolitan areas exhibiting increasing demand along with dwindling supply.
お知らせ • Jan 28Harbor Custom Development, Inc. Increases Footprint in Sacramento Metro Housing MarketHarbor Custom Development, Inc. announced that it has contracted to acquire 22 developed lots in Rocklin, California for $3,944,050. Located just over 21 miles from downtown Sacramento, the Rocklin subdivision will offer single family homes ranging in size from 2,300 to 2,800 square feet and priced from $700,000 to $850,000. Situated adjacent to Quarry Park, the adventure park provides home buyers access to a variety of outdoor recreational activities. Harbor Custom Homes® anticipates commencing construction of the four and five bedroom homes in the second quarter of 2021.
Recent Insider Transactions • Jan 21Independent Director recently bought US$105k worth of stockOn the 15th of January, Larry Swets bought around 35k shares on-market at roughly US$3.00 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.
お知らせ • Jan 14Harbor Custom Development, Inc. has completed a Follow-on Equity Offering in the amount of $24 million.Harbor Custom Development, Inc. has completed a Follow-on Equity Offering in the amount of $24 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 8,000,000 Price\Range: $3 Discount Per Security: $0.21
Valuation Update With 7 Day Price Move • Jan 12Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to US$3.63, the stock is trading at a trailing P/E ratio of 59.8x, down from the previous P/E ratio of 71.2x. This compares to an average P/E of 15x in the Consumer Durables industry in the US.
Is New 90 Day High Low • Jan 12New 90-day low: US$3.63The company is down 30% from its price of US$5.15 on 13 October 2020. The American market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is down 5.0% over the same period.
お知らせ • Dec 26Harbor Custom Development, Inc. Announces the Phase 5 Sale of 38 Residential Lots At Soundview Estates in Bremerton, Washington to Lennar Northwest, IncOn December 22, 2020, Harbor Custom Development, Inc. announced that it has closed on the phase 5 sale of 38 residential lots at Soundview Estates in Bremerton, Washington to Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (“Lennar”) for $4,750,000, and has contracted to sell Lennar an additional 50 lots in Phase 6. Harbor has announced the completion of infrastructure improvements on 190 lots at Soundview Estates, of which 165 were purchased by Lennar for single family home construction. Lennar had previously closed on phases 1, 2, and 3 totaling 127 lots during the last 12 months.
お知らせ • Dec 01Harbor Custom Development, Inc. Announces Resignation of Robb Kenyon as Member of Board’S Compensation Committee and Nominating and Corporate Governance CommitteeEffective as of November 25, 2020, Mr. Robb Kenyon resigned as a member of the Board’s Compensation Committee and Nominating and Corporate Governance Committee. Mr. Kenyon’s resignation from the respective committees was not due to any disagreement with the Harbor Custom Development, Inc. on any matter relating to its operations, policies or practices. Mr. Kenyon remains a director on the Company’s Board of Directors. Effective as of November 25, 2020, Mr. Wally Walker, an independent director, was appointed to the Board's Compensation Committee and Nominating and Corporate Governance Committee to fill the vacancies created by Mr. Kenyon's resignation from the aforementioned committees. The Board's Compensation Committee and Nominating and Corporate Governance Committee now have a majority of independent directors in compliance with the Nasdaq rules as the Company is in the phase-in period.