Hovnanian Stock Falls On Unusually High Volume (HOV)

NEW YORK ( TheStreet) -- Hovnanian (NYSE: HOV) is trading at unusually high volume Thursday with 6.2 million shares changing hands. It is currently at 4.5 times its average daily volume and trading down 6 cents (-2.3%) at $2.34 as of 1:20 p.m. ET.

Hovnanian has a market cap of $141.7 million and is part of the industrial goods sector and materials & construction industry. Shares are up 40% year to date as of the close of trading on Wednesday.

Hovnanian Enterprises, Inc. designs, constructs, markets, and sells residential homes in the United States. It constructs single-family attached and detached homes, attached townhomes and condominiums, and urban infill and active adult homes.

TheStreet Ratings rates Hovnanian as a sell. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and poor profit margins. You can view the full Hovnanian Ratings Report.

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