Short Interest in Nova Minerals Ltd (NASDAQ:NVA) Increases By 86.8%

Nova Minerals Ltd (NASDAQ:NVA) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 1,206,728 shares, an increase of 86.8% from the November 30th total of 646,170 shares. Based on an average trading volume of 899,236 shares, the short-interest ratio is currently 1.3 days. Currently, 3.5% of the company’s stock are sold short. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 899,236 shares, the short-interest ratio is currently 1.3 days.

Nova Minerals Stock Performance

Shares of NASDAQ:NVA traded up $0.03 during trading on Friday, reaching $7.23. The stock had a trading volume of 701,221 shares, compared to its average volume of 791,270. The stock has a 50-day moving average of $8.59. Nova Minerals has a one year low of $1.68 and a one year high of $16.28.

Hedge Funds Weigh In On Nova Minerals

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers purchased a new stake in shares of Nova Minerals during the 3rd quarter valued at $63,000. Citadel Advisors LLC acquired a new position in Nova Minerals during the 3rd quarter valued at about $285,000. Finally, AMH Equity Ltd purchased a new stake in Nova Minerals in the third quarter valued at about $984,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NVA shares. Wall Street Zen raised shares of Nova Minerals from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nova Minerals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average 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.