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

Hovnanian Enterprises, Inc. (NYSE:HOV) was the target of a large growth in short interest in 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. Based on an average daily trading volume, of 80,900 shares, the days-to-cover ratio is presently 2.7 days. Approximately 5.0% of the company’s stock are short sold.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Hovnanian Enterprises

A number of hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Hovnanian Enterprises during the third quarter valued at approximately $687,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hovnanian Enterprises by 92.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after purchasing an additional 23,990 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Hovnanian Enterprises in the 2nd quarter worth $352,000. Allspring Global Investments Holdings LLC purchased a new position in Hovnanian Enterprises during the 3rd quarter worth $33,000. Finally, Forager Capital Management LLC increased its position in Hovnanian Enterprises by 3.5% during the 3rd quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock valued at $23,911,000 after buying an additional 4,000 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Hovnanian Enterprises Stock Down 1.0 %

Hovnanian Enterprises stock opened at $139.21 on Monday. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. The firm has a market cap of $843.58 million, a P/E ratio of 4.34 and a beta of 2.70. The business has a fifty day moving average of $155.30 and a two-hundred day moving average of $179.30. Hovnanian Enterprises has a twelve month low of $115.90 and a twelve month high of $240.34.

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.