Nova LifeStyle (NASDAQ:NVFY) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Nova LifeStyle, Inc. (NASDAQ:NVFY) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.58 and traded as high as $0.66. Nova LifeStyle shares last traded at $0.62, with a volume of 50,965 shares.

Nova LifeStyle Trading Up 19.8 %

The firm has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $0.81. The stock has a market cap of $2.22 million, a PE ratio of -0.16 and a beta of 0.96. The company has a current ratio of 0.71, a quick ratio of 0.15 and a debt-to-equity ratio of 3.02.

Institutional Investors Weigh In On Nova LifeStyle

A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC raised its position in shares of Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 reporting period. 27.21% of the stock is currently owned by 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.