Harbor Custom Development (NASDAQ:HCSI) is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington’s Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida.

As a land developer and builder of apartments, condominiums, single-family homes and luxury homes, Harbor Custom Development’s business strategy is to acquire and develop land strategically based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on acquiring land with scenic views to develop and sell residential lots, new home communities, and multi-story condominium and apartment properties within a 20 to 60-minute commute of the nation’s fastest-growing metro employment corridors.


HCDI made a great move up from $2 after announcing expansion into Austin, Texas. The Austin portfolio includes single-family lots in communities like Summit Rock, Horseshoe Bay and Stone House, Horseshoe Bay, the real estate development company said.

This news helped move the stock up $1, a 50% move. After a few days of consolidation, the stock price looks set to break above $3. We think this move could extend to above $3.60, allowing for a further 20% gain.

Chart provided by TradingView

HCDI has a small float of just 14.3 million shares and a market cap of $34.3M. The short float is also 16.25%. If the price breaks above $3, shares could be using this as an area to cover. This would mean more buying volume to help a move higher.

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