Nova Lifestyle (NASDAQ:NVFY) was upgraded by TheStreet from a “d+” rating to a “c-” rating in a research note issued to investors on Tuesday.

Separately, ValuEngine cut Nova Lifestyle from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.

Nova Lifestyle (NVFY) traded up $0.21 on Tuesday, reaching $2.43. The company had a trading volume of 3,291,100 shares, compared to its average volume of 321,758. Nova Lifestyle has a twelve month low of $1.06 and a twelve month high of $3.10. The company has a current ratio of 74.16, a quick ratio of 66.69 and a debt-to-equity ratio of 0.05. The company has a market cap of $60.79, a PE ratio of 55.50 and a beta of 1.81.

Nova Lifestyle (NASDAQ:NVFY) last posted its quarterly earnings results on Monday, November 13th. The company reported $0.11 earnings per share for the quarter. Nova Lifestyle had a return on equity of 1.31% and a net margin of 1.64%. The business had revenue of $33.22 million for the quarter.

Nova Lifestyle declared that its Board of Directors has approved a share buyback program on Tuesday, December 12th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

An institutional investor recently raised its position in Nova Lifestyle stock. Vanguard Group Inc. grew its position in shares of Nova Lifestyle, Inc (NASDAQ:NVFY) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 576,706 shares of the company’s stock after purchasing an additional 36,891 shares during the quarter. Vanguard Group Inc. owned approximately 2.14% of Nova Lifestyle worth $871,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.40% of the company’s stock.

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Nova Lifestyle Company Profile

Nova LifeStyle, Inc is a manufacturer of contemporary styled residential furniture incorporated into a marketing and sales platform offering retail, as well as online selection. The Company operates through the design, manufacture and sale of furniture segment. The Company monitors trending and work to create design elements that are then integrated into its product lines that can be used as standalone, as well as whole room and home furnishing solutions.

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