Nova Minerals (NASDAQ:NVA) Trading 1.8% Higher – Still a Buy?

Nova Minerals Ltd (NASDAQ:NVA) was up 1.8% during mid-day trading on Monday . The company traded as high as $7.98 and last traded at $7.90. Approximately 614,075 shares were traded during trading, a decline of 42% from the average daily volume of 1,053,684 shares. The stock had previously closed at $7.76.

Wall Street Analysts Forecast Growth

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

Nova Minerals Trading Up 1.8%

The business’s 50 day simple moving average is $8.27.

Institutional Trading of Nova Minerals

A number of institutional investors and hedge funds have recently modified their holdings of NVA. Rhumbline Advisers purchased a new position in Nova Minerals in the 3rd quarter valued at about $63,000. Citadel Advisors LLC acquired a new position in shares of Nova Minerals during the third quarter valued at approximately $285,000. AMH Equity Ltd purchased a new position in shares of Nova Minerals in the third quarter valued at approximately $984,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Nova Minerals in the fourth quarter worth approximately $429,000.

Nova Minerals Company Profile

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.