Examining the Potential Price Growth of Hovnanian Enterprises Inc. (HOV)


Hovnanian Enterprises Inc.’s recent filing unveils that its Chairman of Bd., Pres. & CEO HOVNANIAN ARA K unloaded Company’s shares for reported $48359.0 on Jul 11. In the deal valued at $96.72 per share,500 shares were sold. As a result of this transaction, HOVNANIAN ARA K now holds 51,075 shares worth roughly $ 6.4 million.

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Then, HOVNANIAN ARA K sold 7,803 shares, generating $743,495 in total proceeds. Upon selling the shares at $95.28, the Chairman of Bd., Pres. & CEO now owns 63,505 shares.

Before that, HOVNANIAN ARA K sold 2,197 shares. Hovnanian Enterprises Inc. shares valued at $208,851 were divested by the Chairman of Bd., Pres. & CEO at a price of $95.06 per share. As a result of the transaction, HOVNANIAN ARA K now holds 71,308 shares, worth roughly $8.94 million.

Buckingham Research initiated its Hovnanian Enterprises Inc. [HOV] rating to a Neutral in a research note published on Friday.

Price Performance Review of HOV

On Friday, Hovnanian Enterprises Inc. [NYSE:HOV] saw its stock jump 5.48% to $125.35. On the same session, the stock had its day’s lowest price of $116.28, but rose to a high of $126.21. Over the last five days, the stock has gained 33.11%. Hovnanian Enterprises Inc. shares have risen nearly 197.88% since the year began. Nevertheless, the stocks have risen 212.67% over the past one year. While a 52-week high of $119.83 was reached on 09/01/23, a 52-week low of $33.20 was recorded on 01/03/23. SMA at 50 days reached $101.46, while 200 days put it at $74.29. A total of 0.12 million shares were traded, compared to the trading of 0.18 million shares in the previous session.

Levels Of Support And Resistance For HOV Stock

The 24-hour chart illustrates a support level at 119.02, which if violated will result in even more drops to 112.68. On the upside, there is a resistance level at 128.95. A further resistance level may holdings at 132.54. The Relative Strength Index (RSI) on the 14-day chart is 74.00, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 18.88, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.35%. Stochastics %K at 97.10% indicates the stock is a selling.

How much short interest is there in Hovnanian Enterprises Inc.?

A steep rise in short interest was recorded in Hovnanian Enterprises Inc. stocks on Aug 14, 2023, growing by 65430.0 shares to a total of 0.19 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.13 million shares. There was a rise of 34.17%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.02% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.43.

Hovnanian Enterprises Inc. [HOV] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 299,463 shares, or roughly 5.67% of the outstanding HOV shares. In other words, the investor’s shares have risen by 22,300 from its previous 13-F filing of 277163.0. Additionally, The Vanguard Group, Inc. increased 4.28% of its stake after which the total value it holdings stand at $25,295,382, while Renaissance Technologies LLC reduced -4.88% of its stake to hold $20.36 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 34,463 shares of Hovnanian Enterprises Inc., while D. E. Shaw & Co. LP bought 8,141 shares. At present, GW&K Investment Management LLC is holding 133,701 shares valued at $14.26 million. Geode Capital Management LLC owned 93,431 shares of the company at the time of its most recent 13F filing, worth $9.96 million.

According to FactSet, Hovnanian Enterprises Inc.’s share price will average $27.00 in the next year, based on opinions of analysts polled by the firm. This is down nearly -77.28 percent from its previous closing price of $118.84. Analysts expect Hovnanian Enterprises Inc. stock to reach the higher price of $27.00, while the lowest price estimate is $27.00. However, 1 analyst have rated HOV stock as a Hold in their predictions for 2023.


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