Short Interest in Nova Lifestyle, Inc (NASDAQ:NVFY) Increases By 321.8%

Key Points

• NOVA Lifestyle, Inc. saw a drastic 321.8% increase in short interest in August, totaling 525,100 shares as of August 31st.
• The average daily volume of shares traded is 737,400, resulting in a days-to-cover ratio of 0.7 days for the stock.
• Wall Street analysts upgraded Nova Lifestyle to a "hold" rating on August 22nd, while the company's market cap stands at $68.16 million.

Nova Lifestyle, Inc (NASDAQ:NVFY - Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 525,100 shares, a growth of 321.8% from the August 15th total of 124,500 shares. Based on an average daily trading volume, of 737,400 shares, the short-interest ratio is presently 0.7 days. Approximately 3.9% of the company's shares are sold short. Approximately 3.9% of the company's shares are sold short. Based on an average daily trading volume, of 737,400 shares, the short-interest ratio is presently 0.7 days.

Nova Lifestyle Price Performance

NASDAQ NVFY remained flat at $5.10 on Wednesday. The company's stock had a trading volume of 486,787 shares, compared to its average volume of 504,456. Nova Lifestyle has a 52 week low of $0.38 and a 52 week high of $5.93. The stock has a market cap of $70.23 million, a price-to-earnings ratio of -1.13 and a beta of 0.76. The firm has a fifty day moving average price of $2.64 and a 200-day moving average price of $1.56. The company has a current ratio of 2.28, a quick ratio of 1.93 and a debt-to-equity ratio of 0.04.

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. The company had revenue of $2.56 million for the quarter. Nova Lifestyle had a negative return on equity of 107.37% and a negative net margin of 42.53%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Nova Lifestyle to a "hold" rating in a report on Friday, August 22nd.

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.