Hovnanian Enterprises (NYSE: HOV) saw its shares plummet 6.68% intraday on Thursday following the release of its Q4 earnings report, which revealed a significant miss on earnings per share (EPS) and a net loss for the quarter.

The homebuilder reported a Q4 EPS of -$0.51, far below the analyst consensus estimate of $0.63, and a net loss of $667K. While revenue slightly beat expectations at $817.9M, the company's pretax loss of $4.11M and expenses related to refinancing ($34M) and land charges ($19M) weighed heavily on investor sentiment.

Analysts maintain a "hold" rating on the stock, with a median price target of $120, below its recent closing price. The earnings miss and negative financial outlook likely drove the sharp decline in Hovnanian's stock price.