Nova LifeStyle, Inc. (NASDAQ:NVFY) Sees Large Growth in Short Interest

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Nova LifeStyle, Inc. (NASDAQ:NVFY) saw a significant increase in short interest during the month of October. As of October 30th, there was short interest totalling 40,600 shares, an increase of 13.4% from the October 15th total of 35,800 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 74,300 shares, the days-to-cover ratio is currently 0.5 days.

NASDAQ NVFY traded down $0.11 on Friday, hitting $1.98. 59,691 shares of the stock were exchanged, compared to its average volume of 66,693. Nova LifeStyle has a 52-week low of $0.66 and a 52-week high of $3.08. The firm has a market capitalization of $10.98 million, a P/E ratio of 4.88 and a beta of 1.67. The stock has a fifty day moving average price of $1.96 and a two-hundred day moving average price of $1.70.

An institutional investor recently raised its position in Nova LifeStyle stock. BlackRock Inc. boosted its position in shares of Nova LifeStyle, Inc. (NASDAQ:NVFY) by 209.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,627 shares of the company’s stock after purchasing an additional 22,752 shares during the period. BlackRock Inc. owned about 0.61% of Nova LifeStyle worth $56,000 as of its most recent SEC filing. Institutional investors own 1.71% of the company’s stock.

About Nova LifeStyle

Nova LifeStyle, Inc, together with its subsidiaries, designs, manufactures, markets, and sells residential and commercial furniture for middle and upper middle-income consumers worldwide. The company offers upholstered, wood, and metal-based furniture pieces for the living rooms, dining rooms, bedrooms, and home offices.

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