Nova LifeStyle, Inc. (NASDAQ:NVFY) Sees Large Drop in Short Interest

Nova LifeStyle, Inc. (NASDAQ:NVFY) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 5,100 shares, a decline of 86.4% from the February 28th total of 37,400 shares. Based on an average trading volume of 553,900 shares, the short-interest ratio is currently 0.0 days. Approximately 0.1% of the shares of the stock are short sold.

Nova LifeStyle Price Performance

Nova LifeStyle stock traded up $0.01 during midday trading on Friday, reaching $0.71. 19,642 shares of the stock were exchanged, compared to its average volume of 303,049. Nova LifeStyle has a 52 week low of $0.39 and a 52 week high of $3.73. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.15 and a current ratio of 0.71. The firm has a market cap of $2.19 million, a PE ratio of -0.16 and a beta of 0.96. The company’s fifty day moving average is $0.58 and its 200-day moving average is $0.81.

Hedge Funds Weigh In On Nova LifeStyle

A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC raised its stake in Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,325 shares of the company’s stock after buying an additional 46,178 shares during the period. Geode Capital Management LLC owned about 1.89% of Nova LifeStyle worth $39,000 at the end of the most recent quarter. 27.21% of the stock is owned by institutional investors.

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.