Hovnanian recalibrates amid a shift to a higher-margin mix

Last quarter, Hovnanian Enterprises posted weak results, reporting a net loss that sent its stock (HOV) price crashing. Three months later, the company appears to have bounced back as it executes a strategic shift, but warning signs persist. 

Hovnanian Enterprises, the parent company of K. Hovnanian Homes, beat Wall Street expectations by reporting $20.9 million in net income in Q1…