Hovnanian Enterprises Inc (NYSE:HOV) rose 3.4% during mid-day trading on Wednesday . The stock traded as high as $2.05 and last traded at $2.12. Approximately 2,918,359 shares were traded during mid-day trading, an increase of 96% from the average daily volume of 1,485,680 shares. The stock had previously closed at $2.05.

HOV has been the subject of several analyst reports. TheStreet lowered shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a report on Thursday, September 7th. BidaskClub lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, MKM Partners restated a “neutral” rating on shares of Hovnanian Enterprises in a report on Tuesday, September 5th.

The stock’s market capitalization is $329.13 million. The stock has a 50 day moving average of $1.87 and a 200-day moving average of $2.25.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, September 7th. The construction company reported ($2.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($2.27). Hovnanian Enterprises had a negative net margin of 12.69% and a negative return on equity of 7.10%. The company had revenue of $592.00 million during the quarter, compared to analyst estimates of $584.50 million. The firm’s quarterly revenue was down 17.4% compared to the same quarter last year. Equities research analysts expect that Hovnanian Enterprises Inc will post ($0.05) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its position in Hovnanian Enterprises by 5.5% in the second quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after buying an additional 1,975 shares during the last quarter. Eqis Capital Management Inc. lifted its position in Hovnanian Enterprises by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after buying an additional 969 shares during the last quarter. Globeflex Capital L P acquired a new position in Hovnanian Enterprises in the second quarter valued at about $115,000. Creative Planning lifted its position in Hovnanian Enterprises by 611.3% in the second quarter. Creative Planning now owns 41,850 shares of the construction company’s stock valued at $117,000 after buying an additional 35,966 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in Hovnanian Enterprises by 83.3% in the first quarter. UBS Asset Management Americas Inc. now owns 59,193 shares of the construction company’s stock valued at $134,000 after buying an additional 26,897 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors.

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About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

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