Nova Minerals Ltd (NASDAQ:NVA) Sees Significant Growth in Short Interest

Nova Minerals Ltd (NASDAQ:NVA) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,315,739 shares, a growth of 20.2% from the January 15th total of 1,094,787 shares. Based on an average daily trading volume, of 1,188,340 shares, the short-interest ratio is presently 1.1 days. Approximately 3.5% of the company’s shares are short sold. Approximately 3.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,188,340 shares, the short-interest ratio is presently 1.1 days.

Nova Minerals Trading Up 1.5%

Shares of NVA traded up $0.10 during mid-day trading on Wednesday, reaching $6.64. The stock had a trading volume of 522,186 shares, compared to its average volume of 989,550. The business’s fifty day moving average is $8.06 and its 200 day moving average is $6.55. Nova Minerals has a 52-week low of $1.68 and a 52-week high of $16.28.

Hedge Funds Weigh In On Nova Minerals

Institutional investors have recently modified their holdings of the business. Soviero Asset Management LP acquired a new position in Nova Minerals in the fourth quarter valued at approximately $1,770,000. Heights Capital Management Inc. purchased a new position in Nova Minerals during the 4th quarter worth $1,562,000. Brooklands Fund Management Ltd acquired a new position in Nova Minerals in the 4th quarter valued at about $697,000. Trifecta Capital Advisors LLC acquired a new stake in Nova Minerals during the 4th quarter worth approximately $429,000. Finally, AMH Equity Ltd purchased a new stake in shares of Nova Minerals during the third quarter worth approximately $984,000.

Wall Street Analysts Forecast Growth

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

Nova Minerals Company Profile

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.