Hovnanian Enterprises (NYSE:HOV) Trading Up 13.4%

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) were up 13.4% during trading on Monday . The stock traded as high as $6.41 and last traded at $6.25, approximately 232,162 shares traded hands during mid-day trading. An increase of 90% from the average daily volume of 121,883 shares. The stock had previously closed at $5.51.

Separately, ValuEngine raised shares of Hovnanian Enterprises from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st.

The company has a market cap of $32.72 million, a PE ratio of 10.57 and a beta of 1.79. The company’s 50 day moving average is $6.75 and its 200 day moving average is $7.55.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, June 6th. The construction company reported ($2.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.77) by ($0.79). The company had revenue of $440.69 million during the quarter. Hovnanian Enterprises had a negative return on equity of 2.03% and a net margin of 0.66%. On average, analysts anticipate that Hovnanian Enterprises, Inc. will post 0.05 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Hovnanian Enterprises by 0.3% in the fourth quarter. BlackRock Inc. now owns 9,325,056 shares of the construction company’s stock valued at $6,378,000 after buying an additional 26,161 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Hovnanian Enterprises by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,223,803 shares of the construction company’s stock valued at $836,000 after buying an additional 64,190 shares in the last quarter. Bank of America Corp DE increased its position in Hovnanian Enterprises by 11.3% during the 4th quarter. Bank of America Corp DE now owns 513,268 shares of the construction company’s stock worth $351,000 after purchasing an additional 52,147 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Hovnanian Enterprises during the 1st quarter worth about $669,000. Finally, GSA Capital Partners LLP purchased a new stake in Hovnanian Enterprises during the 2nd quarter worth about $332,000. 23.21% of the stock is currently owned by institutional investors and hedge funds.

About Hovnanian Enterprises (NYSE:HOV)

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.

See Also: Compound Annual Growth Rate (CAGR)

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