Nova Lifestyle (NASDAQ:NVFY) Shares Pass Above 50 Day Moving Average - Here's What Happened

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)'s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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.

Analysts Set New Price Targets

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

Nova Lifestyle Price Performance

The firm has a market cap of $66.37 million, a price-to-earnings ratio of -1.07 and a beta of 0.76. The company has a current ratio of 2.28, a quick ratio of 1.93 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $2.29 and a 200 day moving average of $1.40.

Nova Lifestyle (NASDAQ:NVFY - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.02) EPS for the quarter. The business 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.

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