Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Decreases By 13.3%

Hovnanian Enterprises, Inc. (NYSE:HOV) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 756,500 shares, a drop of 13.3% from the June 30th total of 872,900 shares. Based on an average trading volume of 185,300 shares, the short-interest ratio is presently 4.1 days. Currently, 0.6% of the company’s stock are sold short.

Several large investors have recently made changes to their positions in HOV. Jane Street Group LLC purchased a new position in shares of Hovnanian Enterprises during the second quarter valued at approximately $86,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Hovnanian Enterprises during the second quarter valued at approximately $95,000. D. E. Shaw & Co. Inc. boosted its position in shares of Hovnanian Enterprises by 850.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 165,457 shares of the construction company’s stock valued at $113,000 after buying an additional 148,057 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Hovnanian Enterprises during the second quarter valued at approximately $164,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Hovnanian Enterprises during the second quarter valued at approximately $332,000. 27.64% of the stock is currently owned by institutional investors.

Hovnanian Enterprises stock traded up $0.05 during mid-day trading on Friday, reaching $5.50. The stock had a trading volume of 2,256 shares, compared to its average volume of 197,778. Hovnanian Enterprises has a fifty-two week low of $5.15 and a fifty-two week high of $43.25. The stock’s 50-day simple moving average is $6.96 and its 200-day simple moving average is $7.52. The firm has a market capitalization of $32.61 million, a PE ratio of 7.35 and a beta of 1.79.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, June 6th. The construction company reported ($2.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.77) by ($0.79). Hovnanian Enterprises had a net margin of 0.66% and a negative return on equity of 2.03%. The firm had revenue of $440.69 million during the quarter. As a group, equities research analysts expect that Hovnanian Enterprises will post 0.05 earnings per share for the current year.

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

Hovnanian Enterprises Company Profile

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.

Further Reading: Oversold

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