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

Nova LifeStyle, Inc. (NASDAQ:NVFY) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.60 and traded as high as $0.82. Nova LifeStyle shares last traded at $0.77, with a volume of 146,595 shares trading hands.

Nova LifeStyle Stock Up 15.1 %

The firm has a fifty day moving average price of $0.60 and a 200 day moving average price of $0.70. 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 company has a market cap of $10.19 million, a P/E ratio of -0.17 and a beta of 0.65.

Hedge Funds Weigh In On Nova LifeStyle

An institutional investor recently raised its position in Nova LifeStyle stock. Geode Capital Management LLC increased its position in Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,325 shares of the company’s stock after purchasing an additional 46,178 shares during the quarter. Geode Capital Management LLC owned approximately 1.89% of Nova LifeStyle worth $39,000 as of its most recent SEC filing. 27.21% of the stock is currently owned by hedge funds and other institutional investors.

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.