Hovnanian Enterprises (NYSE:HOV) Shares Gap Up – What’s Next?

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $132.96, but opened at $142.02. Hovnanian Enterprises shares last traded at $141.88, with a volume of 19,984 shares traded.

Wall Street Analyst Weigh In

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

Hovnanian Enterprises Stock Up 4.1 %

The stock has a market cap of $838.38 million, a PE ratio of 4.31 and a beta of 2.70. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $157.81 and a 200-day moving average price of $179.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Hovnanian Enterprises in the 3rd quarter valued at $33,000. FMR LLC raised its stake in Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after purchasing an additional 59 shares during the last quarter. CWM LLC raised its stake in Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after purchasing an additional 354 shares during the last quarter. Creative Planning acquired a new position in Hovnanian Enterprises in the 3rd quarter valued at $202,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Hovnanian Enterprises in the 3rd quarter worth $205,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Company Profile

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.