Nova LifeStyle, Inc. (NASDAQ:NVFY) Sees Large Increase in Short Interest

Nova LifeStyle, Inc. (NASDAQ:NVFY) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 37,400 shares, a growth of 74.8% from the February 13th total of 21,400 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 56,400 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Nova LifeStyle

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

Nova LifeStyle Stock Performance

Shares of NASDAQ:NVFY traded down $0.04 on Friday, hitting $0.41. The company’s stock had a trading volume of 52,859 shares, compared to its average volume of 465,160. The stock’s 50-day moving average is $0.59 and its two-hundred day moving average is $0.86. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.15 and a current ratio of 0.71. The company has a market capitalization of $1.27 million, a price-to-earnings ratio of -0.09 and a beta of 0.96. Nova LifeStyle has a 12 month low of $0.39 and a 12 month high of $4.42.

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.