Nova Minerals Ltd (NASDAQ:NVA) Short Interest Up 58.7% in February

by · The Markets Daily

Nova Minerals Ltd (NASDAQ:NVA – Get Free Report) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 2,953,391 shares, a growth of 58.7% from the February 12th total of 1,860,700 shares. Based on an average daily volume of 720,592 shares, the days-to-cover ratio is currently 4.1 days. Currently, 7.8% of the shares of the stock are sold short. Currently, 7.8% of the shares of the stock are sold short. Based on an average daily volume of 720,592 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Nova Minerals in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Read Our Latest Stock Analysis on Nova Minerals

Nova Minerals Stock Performance

NASDAQ:NVA traded down $0.23 during mid-day trading on Friday, reaching $6.21. The stock had a trading volume of 583,782 shares, compared to its average volume of 709,901. The firm has a 50 day moving average price of $7.97 and a two-hundred day moving average price of $7.08. Nova Minerals has a one year low of $1.68 and a one year high of $16.28.

Institutional Investors Weigh In On Nova Minerals

A number of institutional investors have recently made changes to their positions in NVA. Rhumbline Advisers purchased a new position in Nova Minerals in the 3rd quarter worth $63,000. LPL Financial LLC purchased a new stake in Nova Minerals during the fourth quarter valued at about $68,000. Bank of Montreal Can bought a new position in shares of Nova Minerals during the fourth quarter valued at about $76,000. Millennium Management LLC bought a new position in shares of Nova Minerals during the fourth quarter valued at about $100,000. Finally, Citadel Advisors LLC purchased a new position in shares of Nova Minerals in the third quarter worth about $285,000.

Nova Minerals Company Profile

(Get Free Report)

Nova Minerals is a mineral exploration and development company organized to identify, acquire and advance high-quality gold and battery metals projects. The company’s flagship asset is the Estelle Gold Project in Alaska’s prolific Tintina Gold Province, where it has conducted extensive drilling programs to delineate large, near-surface oxide gold deposits. Nova Minerals applies modern exploration techniques and geophysical surveys to expand its resource base and target additional high-grade zones across its landholding.

Since listing on the Nasdaq under the ticker NVA, the company has focused on advancing its Alaska portfolio through systematic drilling, metallurgical test work and early-stage economic studies.

See Also