Nova Minerals (NASDAQ:NVA) Downgraded to “Sell” Rating by Wall Street Zen

Nova Minerals (NASDAQ:NVA) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nova Minerals in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Nova Minerals Stock Performance

Shares of NVA opened at $5.60 on Friday. Nova Minerals has a one year low of $1.68 and a one year high of $16.28. The stock has a 50-day moving average of $7.49 and a 200-day moving average of $7.32.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Nova Minerals during the fourth quarter valued at about $212,000. Millennium Management LLC acquired a new stake in shares of Nova Minerals in the 4th quarter worth about $100,000. Engineers Gate Manager LP acquired a new stake in shares of Nova Minerals in the 4th quarter worth about $163,000. Heights Capital Management Inc. bought a new position in Nova Minerals in the 4th quarter valued at about $1,562,000. Finally, Soviero Asset Management LP bought a new position in Nova Minerals in the 4th quarter valued at about $1,770,000.

About Nova Minerals

Nova Minerals is a mineral exploration and development company organized to identify, acquire and advance high-quality gold and battery metals projects. The company’s flagship asset is the Estelle Gold Project in Alaska’s prolific Tintina Gold Province, where it has conducted extensive drilling programs to delineate large, near-surface oxide gold deposits. Nova Minerals applies modern exploration techniques and geophysical surveys to expand its resource base and target additional high-grade zones across its landholding.

Since listing on the Nasdaq under the ticker NVA, the company has focused on advancing its Alaska portfolio through systematic drilling, metallurgical test work and early-stage economic studies.