Hovnanian Enterprises (NYSE:HOV) Shares Pass Above Two Hundred Day Moving Average of $8.49

Hovnanian Enterprises, Inc. (NYSE:HOV) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.49 and traded as high as $16.49. Hovnanian Enterprises shares last traded at $15.88, with a volume of 1,282 shares traded.

Several analysts have commented on HOV shares. 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 raised shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th.

The company’s 50 day moving average price is $7.47 and its 200-day moving average price is $8.49. The company has a market capitalization of $91.32 million, a PE ratio of 20.37 and a beta of 1.62.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported ($1.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($1.21). Hovnanian Enterprises had a net margin of 0.31% and a negative return on equity of 0.96%. The company had revenue of $482.04 million for the quarter. On average, sell-side analysts predict that Hovnanian Enterprises, Inc. will post -2.54 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of 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 valued at $351,000 after buying an additional 52,147 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 45,539 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Hovnanian Enterprises by 1,654.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 55,917 shares of the construction company’s stock valued at $403,000 after buying an additional 52,730 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Hovnanian Enterprises during the 2nd quarter valued at $332,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Hovnanian Enterprises during the 2nd quarter valued at $164,000. 24.53% of the stock is owned by institutional investors.

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.

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