Nova LifeStyle (NASDAQ:NVFY) Stock Passes Below 200-Day Moving Average – Time to Sell?

Nova LifeStyle, Inc. (NASDAQ:NVFY)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.86 and traded as low as $0.41. Nova LifeStyle shares last traded at $0.41, with a volume of 52,859 shares changing hands.

Nova LifeStyle Trading Down 8.0 %

The firm has a 50-day moving average of $0.59 and a 200-day moving average of $0.86. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.15 and a current ratio of 0.71. The firm has a market capitalization of $1.27 million, a P/E ratio of -0.09 and a beta of 0.96.

Hedge Funds Weigh In On Nova LifeStyle

A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC increased its stake in shares of Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,325 shares of the company’s stock after acquiring an additional 46,178 shares during the quarter. Geode Capital Management LLC owned approximately 1.89% of Nova LifeStyle worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 27.21% of the company’s stock.

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.