Nova Lifestyle Inc (NASDAQ:NVFY)
Shares of Nova Lifestyle Inc (NASDAQ:NVFY) have, in the last 60 days, tried twice to close over the $1.80 mark and twice sellers have stepped in to push the stock back down. Today volume is heavy for the furniture manufacturer – almost nine times the listed daily average. The company has announced it will be releasing its Q3 2017 earnings report before the market opens on Monday, October 13, 2017.
Nova Lifestyle Inc (NASDAQ:NVFY) is headquartered in Commerce, California. The company designs, manufactures, and distributes modern LifeStyle furniture – primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova’s products are made and marketed in the US, Europe, and Asia and include LifeStyle brands such as Diamond Sofa, Nova QwiK, and Bright Swallow International.
Nova Lifestyle Inc (NASDAQ:NVFY) has a surprisingly low cash per share figure of just $0.01. However, traders have been pushing the stock up since early September when the stock was trading around the $1.10 handle. In the past quarter, NVFY stock has gained over 30%. For the year, shares are down over 45%.
Sales revenue has been flat since 2014 when the company reported a figure of $98.7 million – its best showing to date. After that, the company posted sales in 2015 at $89.9 million, and, for 2016, $92.6 million. During that time the number of outstanding shares has increased – diluting shareholder equity. In 2014 there were a reported 20.38 million shares outstanding. That number increased to 25.43 million by the end of 2016.
2016 represents the first year of negative earnings for the company since 2012 when it had a per share profit of $0.29. Last year the company posted a per share loss of (-$0.01).
According to available resources, no investment firms follow Nova Lifestyle Inc (NASDAQ:NVFY).
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.