Nova LifeStyle, Inc. (NASDAQ:NVFY – Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 37,400 shares, an increase of 74.8% from the February 13th total of 21,400 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 56,400 shares, the days-to-cover ratio is presently 0.7 days.
Institutional Investors Weigh In On Nova LifeStyle
A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC grew its position in Nova LifeStyle, Inc. (NASDAQ:NVFY – Free Report) by 380.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,325 shares of the company’s stock after acquiring an additional 46,178 shares during the quarter. Geode Capital Management LLC owned 1.89% of Nova LifeStyle worth $39,000 as of its most recent SEC filing. 27.21% of the stock is owned by hedge funds and other institutional investors.
Nova LifeStyle Stock Performance
NASDAQ NVFY traded down $0.04 during midday trading on Friday, hitting $0.41. The company had a trading volume of 52,859 shares, compared to its average volume of 465,160. The firm has a fifty day simple moving average of $0.59 and a two-hundred day simple moving average of $0.86. Nova LifeStyle has a fifty-two week low of $0.39 and a fifty-two week high of $4.42. The company has a quick ratio of 0.15, a current ratio of 0.71 and a debt-to-equity ratio of 3.02. The stock has a market cap of $1.27 million, a price-to-earnings ratio of -0.09 and a beta of 0.96.
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.
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