Nova Lifestyle (NASDAQ:NVFY) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Nova Lifestyle, Inc (NASDAQ:NVFY) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.43 and traded as low as $5.25. Nova Lifestyle shares last traded at $5.40, with a volume of 693,194 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nova Lifestyle in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Nova Lifestyle Price Performance

The business has a 50-day moving average of $5.43 and a 200 day moving average of $4.10. The company has a current ratio of 2.28, a quick ratio of 1.93 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $222.92 million, a P/E ratio of -7.01 and a beta of 1.21.

Hedge Funds Weigh In On Nova Lifestyle

A number of large investors have recently modified their holdings of NVFY. Squarepoint Ops LLC bought a new stake in Nova Lifestyle during the 3rd quarter valued at $56,000. Virtu Financial LLC acquired a new position in shares of Nova Lifestyle during the third quarter valued at about $81,000. Finally, Centiva Capital LP acquired a new stake in shares of Nova Lifestyle in the 3rd quarter worth about $165,000. 27.21% of the stock is currently owned by institutional investors.

Nova Lifestyle Company Profile

Nova Lifestyle, Inc operates as a designer, developer and purveyor of niche home goods under its proprietary Nova, Bear and Joydeer brands. The company focuses on small household appliances and kitchenware products, ranging from bean-to-cup coffee roasters and espresso machines to electric kettles, toasters, blenders, juicers, cookware sets and compact vacuum cleaners. With an emphasis on modern aesthetics, functionality and user-friendly design, Nova Lifestyle integrates its product development, sourcing and quality control processes to deliver durable, performance-oriented solutions for everyday home use.

Since initiating operations in 2016, Nova Lifestyle has built a primarily e-commerce–driven distribution model, selling through leading online marketplaces such as Amazon, Walmart Marketplace and eBay, as well as via its direct-to-consumer website.