Nova LifeStyle (NASDAQ:NVFY) Stock Passes Above 50-Day Moving Average – Should You Sell?

Nova LifeStyle, Inc. (NASDAQ:NVFY) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.58 and traded as high as $0.62. Nova LifeStyle shares last traded at $0.59, with a volume of 8,951 shares trading hands.

Nova LifeStyle Stock Performance

The company has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.96. The company has a current ratio of 0.71, a quick ratio of 0.15 and a debt-to-equity ratio of 3.02.

Institutional Trading of Nova LifeStyle

A hedge fund recently raised its stake in Nova LifeStyle stock. Geode Capital Management LLC raised its position in shares of Nova LifeStyle, Inc. (NASDAQ:NVFY) by 380.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,325 shares of the company’s stock after purchasing an additional 46,178 shares during the quarter. Geode Capital Management LLC owned about 1.89% of Nova LifeStyle worth $39,000 as of its most recent SEC filing. 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.