Nova Lifestyle (NASDAQ:NVFY) Upgraded at Wall Street Zen

Nova Lifestyle (NASDAQ:NVFY) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Friday.

Nova Lifestyle Stock Performance

NASDAQ:NVFY opened at $1.80 on Friday. Nova Lifestyle has a 1 year low of $0.3850 and a 1 year high of $3.59. The business has a fifty day simple moving average of $2.00 and a two-hundred day simple moving average of $1.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.28 and a quick ratio of 1.89. The company has a market capitalization of $24.79 million, a P/E ratio of -0.40 and a beta of 0.78.

Nova Lifestyle (NASDAQ:NVFY) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.02) EPS for the quarter. The business had revenue of $2.56 million for the quarter. Nova Lifestyle had a negative net margin of 42.53% and a negative return on equity of 107.37%.

Institutional Trading of Nova Lifestyle

A hedge fund recently raised its stake in Nova Lifestyle stock. Geode Capital Management LLC increased its stake in shares of Nova Lifestyle, Inc (NASDAQ:NVFY) by 380.2% in the fourth quarter, according to its most recent 13F filing with the 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 approximately 1.89% of Nova Lifestyle worth $39,000 at the end of the most recent reporting period. 27.21% of the stock is owned by institutional investors and hedge funds.

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.