NOVONIX Limited Sponsored ADR (NASDAQ:NVX) Sees Significant Growth in Short Interest

by · The Cerbat Gem

NOVONIX Limited Sponsored ADR (NASDAQ:NVX – Get Free Report) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 3,975,528 shares, an increase of 22.0% from the January 29th total of 3,259,441 shares. Based on an average daily trading volume, of 906,856 shares, the days-to-cover ratio is currently 4.4 days. Currently, 2.4% of the company’s shares are sold short. Currently, 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 906,856 shares, the days-to-cover ratio is currently 4.4 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GK Wealth Management LLC bought a new stake in shares of NOVONIX in the fourth quarter valued at about $26,000. Southeast Asset Advisors LLC acquired a new position in NOVONIX in the 3rd quarter valued at approximately $35,000. OLD Mission Capital LLC bought a new stake in shares of NOVONIX in the 4th quarter worth approximately $32,000. Susquehanna International Group LLP acquired a new stake in shares of NOVONIX during the 3rd quarter worth approximately $65,000. Finally, XY Capital Ltd bought a new stake in shares of NOVONIX during the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 0.06% of the company’s stock.

NOVONIX Trading Down 9.5%

NASDAQ NVX traded down $0.09 during trading on Tuesday, hitting $0.86. The company’s stock had a trading volume of 826,205 shares, compared to its average volume of 1,201,490. NOVONIX has a 52 week low of $0.81 and a 52 week high of $3.86. The firm has a 50 day moving average price of $1.07 and a 200 day moving average price of $1.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.07.

NOVONIX (NASDAQ:NVX – Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported ($0.22) earnings per share (EPS) for the quarter. The firm had revenue of $1.40 million for the quarter. Equities research analysts predict that NOVONIX will post -0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NOVONIX in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, NOVONIX has a consensus rating of “Sell”.

Get Our Latest Stock Report on NOVONIX

About NOVONIX

(Get Free Report)

NOVONIX, trading under the NASDAQ ticker NVX, is a technology-driven company specializing in the development and production of advanced materials and testing solutions for the lithium-ion battery industry. The company’s primary focus lies in supplying high-purity synthetic graphite anode materials and delivering comprehensive battery testing services to original equipment manufacturers (OEMs), research institutions, and battery producers worldwide. NOVONIX operates through two core divisions: NOVONIX Materials & Technology, which produces battery-grade graphite, and NOVONIX Battery Testing Solutions, which offers hardware and software platforms designed to accelerate battery research and development.

The Materials & Technology business segment manufactures spherical synthetic graphite anode products that meet rigorous industry standards for performance, consistency, and scalability.

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