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

Nova Lifestyle, Inc (NASDAQ:NVFY) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.29 and traded as high as $5.39. Nova Lifestyle shares last traded at $4.82, with a volume of 2,315,305 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Nova Lifestyle to a “hold” rating in a research note on Friday, August 22nd.

Nova Lifestyle Price Performance

The company has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $1.40. The stock has a market cap of $66.37 million, a price-to-earnings ratio of -1.07 and a beta of 0.76. The company has a current ratio of 2.28, a quick ratio of 1.93 and a debt-to-equity ratio of 0.04.

Nova Lifestyle (NASDAQ:NVFY) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $2.56 million during the quarter. Nova Lifestyle had a negative net margin of 42.53% and a negative return on equity of 107.37%.

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.