Nova Lifestyle, Inc (NASDAQ:NVFY) Sees Significant Drop in Short Interest

Key Points

• Nova Lifestyle, Inc experienced a 31.8% drop in short interest for September, with total short interest falling to 358,300 shares from 525,100 shares in August.
• The company's stock price reached $5.49 with a market capitalization of $75.53 million, while it reported a negative net margin of 42.53% for the last quarter.
• Analyst sentiment is cautious, with the average rating for NVFY classified as a "Sell", though one report has upgraded the stock to a "Hold."

Nova Lifestyle, Inc (NASDAQ:NVFY - Get Free Report) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 358,300 shares, a drop of 31.8% from the August 31st total of 525,100 shares. Based on an average daily trading volume, of 837,200 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 837,200 shares, the days-to-cover ratio is currently 0.4 days.

Nova Lifestyle Stock Performance

Shares of NASDAQ NVFY traded up $0.12 during trading on Monday, hitting $5.49. The company had a trading volume of 402,898 shares, compared to its average volume of 524,081. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.93 and a current ratio of 2.28. Nova Lifestyle has a 12 month low of $0.38 and a 12 month high of $5.93. The stock has a 50 day simple moving average of $3.32 and a 200 day simple moving average of $2.00. The firm has a market capitalization of $75.53 million, a P/E ratio of -1.22 and a beta of 1.16.

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

Analyst Ratings Changes

NVFY has been the topic of a number of analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Nova Lifestyle in a research report on Saturday, September 27th. Wall Street Zen raised shares of Nova Lifestyle to a "hold" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell".

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.

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