Hovnanian Enterprises, Inc. (NYSE:HOV) Sees Large Increase in Short Interest

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 217,000 shares, an increase of 12.1% from the December 31st total of 193,500 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average daily volume of 80,900 shares, the short-interest ratio is presently 2.7 days.

Hovnanian Enterprises Price Performance

Shares of HOV traded down $6.04 during midday trading on Friday, reaching $128.16. The stock had a trading volume of 68,861 shares, compared to its average volume of 71,602. 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 capitalization of $776.65 million, a price-to-earnings ratio of 3.99 and a beta of 2.71. The company's 50-day moving average is $143.27 and its 200 day moving average is $176.73. Hovnanian Enterprises has a 12-month low of $115.90 and a 12-month high of $240.34.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Hovnanian Enterprises

A number of large investors have recently added to or reduced their stakes in HOV. Squarepoint Ops LLC grew its stake in shares of Hovnanian Enterprises by 94.4% during the second quarter. Squarepoint Ops LLC now owns 3,549 shares of the construction company's stock valued at $504,000 after buying an additional 1,723 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Hovnanian Enterprises by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company's stock worth $274,000 after purchasing an additional 145 shares during the period. Truist Financial Corp bought a new stake in Hovnanian Enterprises in the second quarter valued at approximately $352,000. CWM LLC boosted its stake in shares of Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company's stock valued at $153,000 after purchasing an additional 354 shares during the period. Finally, Profit Investment Management LLC bought a new position in shares of Hovnanian Enterprises in the third quarter worth approximately $2,066,000. Hedge funds and other institutional investors own 65.40% of the company's stock.

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.