Hovnanian Enterprises (NYSE:HOV) Shares Gap Up – Time to Buy?

Hovnanian Enterprises, Inc. (NYSE:HOV) shares 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 trading hands.

Analyst Ratings Changes

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

Hovnanian Enterprises Price Performance

The stock has a fifty day moving average of $156.18 and a 200-day moving average of $178.72. 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 stock has a market capitalization of $851.64 million, a price-to-earnings ratio of 4.38 and a beta of 2.70.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOV. Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises in the third quarter valued at approximately $33,000. FMR LLC lifted its stake in Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after buying an additional 59 shares during the last quarter. CWM LLC lifted its stake in Hovnanian Enterprises by 89.6% in the third quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after buying an additional 354 shares during the last quarter. Creative Planning purchased a new stake in shares of Hovnanian Enterprises during the third quarter worth approximately $202,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Hovnanian Enterprises during the third quarter worth approximately $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.