Nova Lifestyle (NASDAQ:NVFY) Shares Pass Above Fifty Day Moving Average - Here's Why

Key Points

• Nova Lifestyle's share price surpassed its fifty-day moving average of $2.29, with the stock trading at $4.82 and a high of $5.39 during the session.
• Analysts recently raised **Nova Lifestyle** to a "hold" rating, indicating a cautious outlook on the stock's performance.
• The firm reported a quarterly loss with an earnings per share (EPS) of ($0.02) and revenue of $2.56 million, reflecting ongoing financial challenges.

Nova Lifestyle, Inc (NASDAQ:NVFY - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.29 and traded as high as $5.39. Nova Lifestyle shares last traded at $4.82, with a volume of 2,315,305 shares traded.

Wall Street Analyst Weigh In

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

Nova Lifestyle Stock Up 0.5%

The business has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $1.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.28 and a quick ratio of 1.93. The firm has a market capitalization of $69.88 million, a price-to-earnings ratio of -1.13 and a beta of 0.76.

Nova Lifestyle (NASDAQ:NVFY - Get Free Report) last posted its 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%.

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.