Nova Lifestyle Inc. (NVFY, Financial) recently saw a significant decline in its stock price, which dropped by 5.30%, bringing it to $1.34 per share with a trading volume of 6,867 shares. The stock's turnover rate stood at 0.22%, with a volatility of 3.89% in the furniture and appliances sector, which overall decreased by 1.12%.
The company's latest financial report revealed an operating income of $2.69 million and a net loss of $563,489, translating to an earnings per share of -$0.22. The gross profit was marked at $1.19 million, while the price-to-earnings ratio remains at -0.30. Currently, there are no institutional ratings or recommendations for buying, holding, or selling the stock.
In comparison, other stocks in the same industry showed diverse performance. Energy Focus, Inc., Viomi Technology, and Northann Corp. saw notable gains. The Lovesac Company, Mohawk Industries, and Irobot Corporation exhibited significant trading activity, with turnover rates of 0.67%, 0.66%, and 0.56% respectively. Stocks like Fgi Industries Ltd C/Wts, Viomi Technology, and Purple Innovation, Inc. experienced higher volatility with swings of 13.12%, 10.37%, and 7.93% respectively.
Nova Lifestyle designs and distributes both residential and commercial modern-style furniture. It offers retail and online purchasing options globally and manages various bedding component sales. Its lifestyle furniture brands, including Diamond Sofa, are produced in the U.S. and Asia, catering mainly to distributors and retailers selling mid-to-high-end private-label home products.
