Short Interest in Nova Minerals Ltd (NASDAQ:NVA) Grows By 20.2%

Nova Minerals Ltd (NASDAQ:NVA) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 1,315,739 shares, an increase of 20.2% from the January 15th total of 1,094,787 shares. Approximately 3.5% of the company’s shares are sold short. Based on an average trading volume of 1,188,340 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 1,188,340 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.5% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Soviero Asset Management LP purchased a new stake in Nova Minerals in the 4th quarter valued at $1,770,000. Heights Capital Management Inc. bought a new stake in shares of Nova Minerals in the 4th quarter worth $1,562,000. Brooklands Fund Management Ltd purchased a new stake in shares of Nova Minerals in the fourth quarter valued at about $697,000. Trifecta Capital Advisors LLC bought a new position in shares of Nova Minerals during the fourth quarter valued at about $429,000. Finally, AMH Equity Ltd bought a new position in shares of Nova Minerals during the third quarter valued at about $984,000.

Nova Minerals Stock Down 0.6%

Shares of Nova Minerals stock opened at $6.50 on Thursday. The business has a 50-day simple moving average of $8.03 and a 200 day simple moving average of $6.55. Nova Minerals has a one year low of $1.68 and a one year high of $16.28.

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.