The 22-year-old Villa academy product has spent the first half of the season on loan at Championship side Blackpool.
"Nathan had always been high on our shortlist for this window," said Sky Blues boss Steven Pressley.
"We'd pursued him for a number of weeks so we are absolutely delighted to be able to bring him in.
"I have been saying throughout this month that we wanted to add strikers in this window so to get someone of Nathan's calibre through the door is exactly the kind of business that we want to be doing.
"He has a great level of experience for somebody of his age and his ability is something we feel will give us the kind of attacking threat that we want."
For breaking stories and all the great banter like us on Facebook: facebook.com/tribalfootball