Nova LifeStyle (NASDAQ:NVFY) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Nova LifeStyle, Inc. (NASDAQ:NVFY)’s share price 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 trading hands.

Nova LifeStyle Price Performance

The stock has a market cap of $2.22 million, a P/E ratio of -0.16 and a beta of 0.96. 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 business’s fifty day moving average price is $0.58 and its 200 day moving average price is $0.81.

Hedge Funds Weigh In On Nova LifeStyle

An institutional investor recently raised its position in Nova LifeStyle stock. Geode Capital Management LLC boosted its position in Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,325 shares of the company’s stock after acquiring an additional 46,178 shares during the period. Geode Capital Management LLC owned 1.89% of Nova LifeStyle worth $39,000 as of its most recent SEC filing. 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.