Wall Street Zen Downgrades Nova Minerals (NASDAQ:NVA) to Sell

Nova Minerals (NASDAQ:NVA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Nova Minerals in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Nova Minerals Stock Performance

Shares of NVA opened at $5.60 on Friday. The business has a 50-day moving average of $7.49 and a 200-day moving average of $7.32. Nova Minerals has a 1 year low of $1.68 and a 1 year high of $16.28.

Hedge Funds Weigh In On Nova Minerals

Institutional investors have recently added to or reduced their stakes in the business. AMH Equity Ltd bought a new position in shares of Nova Minerals during the 3rd quarter worth approximately $984,000. Rhumbline Advisers bought a new stake in shares of Nova Minerals in the 3rd quarter valued at $63,000. Citadel Advisors LLC acquired a new position in shares of Nova Minerals during the 3rd quarter valued at $285,000. Trifecta Capital Advisors LLC acquired a new position in shares of Nova Minerals during the 4th quarter valued at $429,000. Finally, LPL Financial LLC bought a new position in Nova Minerals during the fourth quarter worth $68,000.

About Nova Minerals

Nova Minerals is a mineral exploration and development company organized to identify, acquire and advance high-quality gold and battery metals projects. The company’s flagship asset is the Estelle Gold Project in Alaska’s prolific Tintina Gold Province, where it has conducted extensive drilling programs to delineate large, near-surface oxide gold deposits. Nova Minerals applies modern exploration techniques and geophysical surveys to expand its resource base and target additional high-grade zones across its landholding.

Since listing on the Nasdaq under the ticker NVA, the company has focused on advancing its Alaska portfolio through systematic drilling, metallurgical test work and early-stage economic studies.