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

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Hovnanian Enterprises

A number of large investors have recently made changes to their positions in HOV. Allspring Global Investments Holdings LLC purchased a new position in shares of Hovnanian Enterprises in the third quarter worth approximately $33,000. FMR LLC raised its position in Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after acquiring an additional 59 shares during the period. CWM LLC boosted its stake in shares of Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after acquiring an additional 354 shares during the last quarter. Creative Planning bought a new stake in shares of Hovnanian Enterprises during the 3rd quarter valued at $202,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Hovnanian Enterprises in the 3rd quarter worth $205,000. 65.40% of the stock is currently owned by institutional investors.

Hovnanian Enterprises Stock Performance

Shares of HOV stock traded down $1.36 on Monday, reaching $139.21. The stock had a trading volume of 70,604 shares, compared to its average volume of 85,057. The stock has a market cap of $843.58 million, a P/E ratio of 4.34 and a beta of 2.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. Hovnanian Enterprises has a 1 year low of $115.90 and a 1 year high of $240.34. The company has a 50 day simple moving average of $155.30 and a 200 day simple moving average of $179.30.

About Hovnanian Enterprises

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.