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

Nova LifeStyle, Inc. (NASDAQ:NVFY) crossed 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 traded.

Nova LifeStyle Stock Performance

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

Institutional Investors Weigh In On Nova LifeStyle

A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC boosted its position in Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,325 shares of the company’s stock after buying an additional 46,178 shares during the quarter. Geode Capital Management LLC owned approximately 1.89% of Nova LifeStyle worth $39,000 as of its most recent filing with the SEC. 27.21% of the stock is currently owned by hedge funds and other 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.