Nova Lifestyle (NASDAQ:NVFY) Shares Pass Above Fifty Day Moving Average – Here’s Why

Nova Lifestyle, Inc (NASDAQ:NVFY) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.46 and traded as high as $5.68. Nova Lifestyle shares last traded at $5.40, with a volume of 693,194 shares.

Analyst Upgrades and Downgrades

NVFY has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Nova Lifestyle to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Nova Lifestyle in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Nova Lifestyle Stock Down 1.5%

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.28 and a quick ratio of 1.93. The company has a market cap of $222.92 million, a PE ratio of -7.01 and a beta of 1.21. The business’s 50 day moving average is $5.46 and its 200-day moving average is $3.64.

Institutional Trading of Nova Lifestyle

Institutional investors have recently bought and sold shares of the business. Centiva Capital LP purchased a new position in shares of Nova Lifestyle in the 3rd quarter valued at about $165,000. Virtu Financial LLC purchased a new stake in Nova Lifestyle during the third quarter worth approximately $81,000. Finally, Squarepoint Ops LLC acquired a new position in Nova Lifestyle in the third quarter valued at approximately $56,000. 27.21% of the stock is owned by hedge funds and other institutional investors.

About Nova Lifestyle

Nova LifeStyle, Inc, through 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, dining, and bedrooms, as well as home offices.