Nova Lifestyle, Inc (NASDAQ:NVFY) Short Interest Up 321.8% in August

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 target of a large increase in short interest in August. As of August 31st, there was short interest totaling 525,100 shares, an increase of 321.8% from the August 15th total of 124,500 shares. Approximately 3.9% of the shares of the stock are sold short. Based on an average daily volume of 737,400 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 737,400 shares, the days-to-cover ratio is presently 0.7 days. Approximately 3.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Nova Lifestyle Trading Up 2.5%

Shares of NASDAQ NVFY opened at $4.95 on Friday. Nova Lifestyle has a 52-week low of $0.38 and a 52-week high of $5.93. The firm has a 50 day moving average price of $2.42 and a two-hundred day moving average price of $1.46. The stock has a market cap of $68.16 million, a P/E ratio of -1.10 and a beta of 0.76. 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 (NASDAQ:NVFY - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.02) earnings per share for the quarter. Nova Lifestyle had a negative return on equity of 107.37% and a negative net margin of 42.53%.The firm had revenue of $2.56 million for the quarter.

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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