Nova Minerals (NASDAQ:NVA) Trading Up 4.1% – Here’s What Happened

Nova Minerals Ltd (NASDAQ:NVA)’s share price rose 4.1% during trading on Monday . The stock traded as high as $4.68 and last traded at $4.60. Approximately 183,933 shares were traded during trading, a decline of 48% from the average daily volume of 355,185 shares. The stock had previously closed at $4.42.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nova Minerals in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Nova Minerals Stock Performance

The company’s 50 day moving average is $5.49 and its 200-day moving average is $6.42.

Hedge Funds Weigh In On Nova Minerals

Several institutional investors have recently made changes to their positions in the stock. Soviero Asset Management LP acquired a new stake in shares of Nova Minerals in the 4th quarter valued at about $1,770,000. Heights Capital Management Inc. bought a new stake in Nova Minerals in the 4th quarter valued at about $1,562,000. Brooklands Fund Management Ltd acquired a new position in Nova Minerals during the 4th quarter worth approximately $697,000. Trifecta Capital Advisors LLC acquired a new position in Nova Minerals during the 4th quarter worth approximately $429,000. Finally, Virtu Financial LLC bought a new position in Nova Minerals in the fourth quarter worth approximately $212,000.

About Nova Minerals

Nova Minerals is a mineral exploration and development company organized to identify, acquire and advance high-quality gold and battery metals projects. The company’s flagship asset is the Estelle Gold Project in Alaska’s prolific Tintina Gold Province, where it has conducted extensive drilling programs to delineate large, near-surface oxide gold deposits. Nova Minerals applies modern exploration techniques and geophysical surveys to expand its resource base and target additional high-grade zones across its landholding.

Since listing on the Nasdaq under the ticker NVA, the company has focused on advancing its Alaska portfolio through systematic drilling, metallurgical test work and early-stage economic studies.