Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Expands By 12.1%

Hovnanian Enterprises, Inc. (NYSE:HOV) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 217,000 shares, a growth of 12.1% from the December 31st total of 193,500 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average trading volume of 80,900 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Institutional Trading of Hovnanian Enterprises

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth about $33,000. FMR LLC raised its stake in shares of Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after buying an additional 59 shares in the last quarter. CWM LLC increased its stake in Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after purchasing an additional 354 shares in the last quarter. Creative Planning purchased a new position in Hovnanian Enterprises in the 3rd quarter valued at approximately $202,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Hovnanian Enterprises in the 3rd quarter valued at approximately $205,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Hovnanian Enterprises Price Performance

NYSE:HOV traded down $4.12 during trading hours on Monday, hitting $128.28. 61,703 shares of the stock were exchanged, compared to its average volume of 72,895. Hovnanian Enterprises has a 52-week low of $115.90 and a 52-week high of $240.34. The firm’s fifty day moving average price is $146.81 and its 200 day moving average price is $177.70. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The company has a market cap of $777.35 million, a P/E ratio of 3.99 and a beta of 2.71.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, December 5th. The construction company reported $12.79 EPS for the quarter. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.