The most recent short interest data has been released for the 12/29/2017 settlement date, which shows a 1,566,621 share decrease in total short interest for Hovnanian Enterprises, Inc. (HOV - Get Report), to 7,173,346, a decrease of 17.92% since 12/15/2017. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for HOV at the 12/29/2017 settlement increased to 3,278,181, as compared to 1,926,121 at the 12/15/2017 report. That brought "days to cover" down to 2.19, a 51.78% decrease from the 4.54 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for HOV at previous short interest release dates: A decreased "days to cover" value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where HOV had been shorted as a hedge. The chart below shows the one year performance of HOV shares, versus its 200 day moving average. Looking at this chart, HOV's low point in its 52 week range is $1.66 per share, with $3.41 as the 52 week high point — that compares with a last trade of $3.07. According to Preferred Stock Channel, there is a series of preferred stock that is senior to HOV, which trades under the symbol HOVNP — more info ».
More from Stocks
Park-Ohio Holdings: An Under-the-Radar Opportunity
The diversified manufacturing and supply chain management company holds big upside potential based on expectations of earnings ahead.
Forget Official Data, What Is Chinese Data Really Saying?
Capital outflows are twice as large today as they were the last time China devalued.
Netflix, Bank of America, Opioid Settlement, Brexit, MGM- 5 Things You Must Know
U.S. stock futures decline as Wall Street awaits another round of third-quarter earnings reports and global stocks trade mixed as investors monitored Brexit developments; Netflix, IBM and Bank of America report earnings Wednesday; McKesson, AmerisourceBergen and Cardinal Health reportedly are in talks to pay $18 billion to settle thousands of opioid-related lawsuits.
Johnson & Johnson Gains On Opioid Settlement Reports; Distribution Firms Surge
Johnson & Johnson extended gains in pre-market trading Wednesday amid reports it could be close to agreeing a multi-billion dollar settlement with state attorneys general over its role in the nation's opioid crisis.