Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price shot up 5.3% on Monday . The company traded as high as $17.38 and last traded at $17.02, 221,228 shares traded hands during mid-day trading. An increase of 51% from the average session volume of 146,514 shares. The stock had previously closed at $16.16.
A number of brokerages have recently weighed in on HOV. Zacks Investment Research cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. ValuEngine upgraded shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th.
The stock’s 50 day moving average price is $10.05 and its two-hundred day moving average price is $9.49. The firm has a market capitalization of $96.09 million, a price-to-earnings ratio of 26.35 and a beta of 1.60.
Large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in Hovnanian Enterprises during the 2nd quarter valued at $332,000. Vanguard Group Inc. raised its stake in Hovnanian Enterprises by 28.5% during the 2nd quarter. Vanguard Group Inc. now owns 205,546 shares of the construction company’s stock valued at $1,562,000 after purchasing an additional 45,539 shares during the last quarter. Jane Street Group LLC acquired a new position in Hovnanian Enterprises during the 2nd quarter valued at $86,000. Price T Rowe Associates Inc. MD acquired a new position in Hovnanian Enterprises during the 2nd quarter valued at $95,000. Finally, Paloma Partners Management Co acquired a new position in Hovnanian Enterprises during the 2nd quarter valued at $164,000. Hedge funds and other institutional investors own 24.49% of the company’s stock.
Hovnanian Enterprises Company Profile (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.
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