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Hovnanian Enterprises (NYSE:HOV)’s share price hit a new 52-week low during mid-day trading on Monday , Analyst Ratings reports. The stock traded as low as $4.32 and last traded at $4.33, with a volume of 1,222,311 shares trading hands. The stock had previously closed at $4.42.

Separately, analysts at JMP Securities cut their price target on shares of Hovnanian Enterprises from $4.50 to $4.00 in a research note on Thursday, June 5th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company currently has a consensus rating of “Sell” and an average price target of $4.66.

The stock’s 50-day moving average is $4.62 and its 200-day moving average is $5.01. The company has a market cap of $625.4 million and a P/E ratio of 73.67. Hovnanian Enterprises also was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 16,356,241 shares, an increase of 18.4% from the June 30th total of 13,817,813 shares. Currently, 13.9% of the company’s stock are short sold. Based on an average daily trading volume, of 2,630,688 shares, the short-interest ratio is currently 6.2 days.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.05) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.03 by $0.08. The company had revenue of $449.90 million for the quarter, compared to the consensus estimate of $476.72 million. During the same quarter last year, the company posted $0.01 earnings per share. Hovnanian Enterprises’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that Hovnanian Enterprises will post $0.10 EPS for the current fiscal year.

Hovnanian Enterprises, Inc (NYSE:HOV) designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise condominiums, urban infill and active adult homes in planned residential developments.

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