Nova Lifestyle (NASDAQ:NVFY) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Nova Lifestyle, Inc (NASDAQ:NVFY) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.44 and traded as high as $5.68. Nova Lifestyle shares last traded at $5.40, with a volume of 693,194 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on NVFY. Wall Street Zen raised 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 research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Nova Lifestyle presently has an average rating of “Sell”.

Nova Lifestyle Stock Performance

The business has a 50-day moving average price of $5.44 and a 200-day moving average price of $3.26. The company has a quick ratio of 1.93, a current ratio of 2.28 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $222.92 million, a price-to-earnings ratio of -7.01 and a beta of 1.21.

Institutional Investors Weigh In On Nova Lifestyle

Several institutional investors have recently added to or reduced their stakes in NVFY. Centiva Capital LP acquired a new position in shares of Nova Lifestyle during the third quarter valued at about $165,000. Virtu Financial LLC acquired a new stake in Nova Lifestyle in the 3rd quarter worth approximately $81,000. Finally, Squarepoint Ops LLC purchased a new stake in Nova Lifestyle during the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 27.21% of the company’s stock.

Nova Lifestyle Company Profile

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.