Nova LifeStyle (NASDAQ:NVFY) Shares Pass Above 50 Day Moving Average – Should You Sell?

Nova LifeStyle, Inc. (NASDAQ:NVFY)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.60 and traded as high as $0.61. Nova LifeStyle shares last traded at $0.61, with a volume of 3,767 shares trading hands.

Nova LifeStyle Stock Performance

The firm has a market cap of $1.88 million, a price-to-earnings ratio of -0.14 and a beta of 1.05. The stock has a 50-day moving average of $0.60 and a 200-day moving average of $0.93. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.15 and a current ratio of 0.71.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC grew its stake in shares of Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,325 shares of the company’s stock after purchasing an additional 46,178 shares during the quarter. Geode Capital Management LLC owned about 1.89% of Nova LifeStyle worth $39,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 27.21% of the company’s stock.

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.