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 during 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 trading volume of 1,188,340 shares, the short-interest ratio is currently 1.1 days. Currently, 3.5% of the company’s shares are sold short. Currently, 3.5% of the company’s shares are sold short. Based on an average trading volume of 1,188,340 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analyst Weigh In

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

Nova Minerals Price Performance

NVA traded down $0.51 during trading on Tuesday, hitting $6.55. The company’s stock had a trading volume of 895,503 shares, compared to its average volume of 999,806. Nova Minerals has a twelve month low of $1.68 and a twelve month high of $16.28. The stock’s fifty day moving average price is $8.09 and its 200-day moving average price is $6.55.

Institutional Investors Weigh In On Nova Minerals

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers bought a new stake in Nova Minerals in the third quarter valued at $63,000. LPL Financial LLC bought a new position in shares of Nova Minerals during the 4th quarter worth about $68,000. Bank of Montreal Can acquired a new stake in shares of Nova Minerals in the 4th quarter valued at about $76,000. Sabby Management LLC bought a new stake in Nova Minerals in the 4th quarter valued at about $182,000. Finally, Citadel Advisors LLC acquired a new position in Nova Minerals during the 3rd quarter worth approximately $285,000.

About Nova Minerals

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.