Hovnanian Enterprises Inc – Dep (NASDAQ:HOVNP) Traded 8.9% Above Its 50 Day Average

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Company shares are trading at $7.00 barely above the 50 day moving average of $6.43 and which is marginally over the 200 day moving average of $6.76. The 50 day moving average was up $0.57 or +8.92% and the 200 day average went up by +3.56%. Hovnanian Enterprises Inc – Dep shares had a trading volume of 1,200 on Tuesday. Shares saw a steep decrease in trading volume of 92.37% under the normal average daily volume.

Traders are more bearish on shares of the company recently if you pay attention to the motion in short interest. The firm had a rise in short interest of 432.95% as of September 29, 2017 from the last reporting period. Short interest grew from 774 to 4,125 over that timeframe. With short interest at 4,125 and short average daily volume at 8,384, the short-interest ratio is 0.0 and the percentage of shorted shares was 0.00% on September 29.

Hovnanian Enterprises, Inc., launched on June 27, 1983, 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. Its homebuilding operations consist of six segments: Northeast: New Jersey and Pennsylvania; Mid-Atlantic: Delaware, Maryland, Virginia, Washington, District of Columbia, and West Virginia; Midwest: Illinois and Ohio; Southeast: Florida, Georgia and South Carolina; Southwest: Arizona and Texas, and West: California. Its financial services operations provide mortgage loans and title services to the customers of its homebuilding operations. As of October 31, 2016, the Company offered homes for sale in 167 communities in 33 markets in 14 states throughout the United States..

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