Nova LifeStyle (NASDAQ:NVFY) Stock Passes Above Fifty Day Moving Average – Here’s Why

Nova LifeStyle, Inc. (NASDAQ:NVFY)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.05 and traded as high as $1.62. Nova LifeStyle shares last traded at $1.50, with a volume of 35,885 shares trading hands.

Nova LifeStyle Stock Up 12.8%

The company has a 50-day moving average of $1.05 and a 200-day moving average of $0.74. The company has a market capitalization of $20.56 million, a price-to-earnings ratio of -0.33 and a beta of 0.60. The company has a current ratio of 0.71, a quick ratio of 0.15 and a debt-to-equity ratio of 3.02.

Nova LifeStyle (NASDAQ:NVFY) last announced its earnings results on Thursday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter. Nova LifeStyle had a negative net margin of 92.08% and a negative return on equity of 718.36%. The business had revenue of $2.64 million for the quarter.

Institutional Trading of Nova LifeStyle

A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC raised its position in shares of Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,325 shares of the company’s stock after purchasing an additional 46,178 shares during the quarter. Geode Capital Management LLC owned 1.89% of Nova LifeStyle worth $39,000 at the end of the most recent reporting period. Institutional investors own 27.21% of the company’s stock.

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.