Dream Finders Homes Inc.’s initial public offering was a smash hit on Wall Street, with the stock more than doubling in price when it began trading a month ago.
But as analysts weighed in last week with their first reports on the Jacksonville-based homebuilder, the stock cooled.
Three analysts rated it at the equivalent of a “hold” and another rated it as “underperform.”
Dream Finders sold 11.04 million shares of Class A common stock at $13 each and the stock jumped higher immediately when it began trading Jan. 21. It eventually reached a high of $31.98 two weeks ago.
The analysts have a high opinion of the company but think its market price has been too high since the IPO.