Hovnanian Enterprises Inc (NYSE:HOV) has tumbled 1.76% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.45% in the last four weeks. The stocks have underperformed the S&P 500 by 0.59% during the past week but Hovnanian Enterprises Inc (NYSE:HOV) it has outperformed the index in 4 weeks by 1.52%.
Hovnanian Enterprises Inc (NYSE:HOV): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.61 and $1.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.67, notching a gain of 4.38% for the day. The total traded volume was 2,669,493 . The stock had closed at $1.60 on the previous day.
The company shares have dropped -38.38% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $2.91 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $1.68 and the 200 Day Moving Average price is recorded at $1.62.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Hovnanian Enterprises Inc, Pagano Vincent Jr had purchased shares worth of $25,291 in a transaction dated on April 14, 2016. A total of 14,535 shares were purchased at a price of $1.74 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Deutsche Bank maintains its rating on Hovnanian Enterprises Inc (NYSE:HOV). The global brokerage major lowers the current price target from $2.4 per share to $2 per share. Analysts at the Deutsche Bank have a current rating of Hold on the shares. The rating by the firm was issued on March 29, 2016. Currently the company Insiders own 16.54% of Hovnanian Enterprises Inc shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 14.96% . Institutional Investors own 30.61% of Hovnanian Enterprises Inc shares. During last six month period, the net percent change held by insiders has seen a change of 14.96%.
Hovnanian Enterprises, Inc. (Hovnanian) design, construct, market, and sell single-family detached homes, attached townhomes and condominiums, urban infill, and active adult homes in planned residential developments. The Company consists of two distinct operations: homebuilding and financial services. Its homebuilding operations consist of six segments: Northeast, including New Jersey and Pennsylvania; Mid-Atlantic, including Delaware, Maryland, Virginia, West Virginia, and Washington, D.C; Midwest, including Illinois, Minnesota and Ohio; Southeast, including Florida, Georgia, North Carolina and South Carolina; Southwest, including Arizona and Texas, and West, including California. Its financial services operations provide mortgage loans and title services to the customers of its homebuilding operations. During fiscal year ended October 31, 2013 (fiscal 2013), the Company had delivered 5,266 homes.