NOVONIX Limited Sponsored ADR (NASDAQ:NVX) Short Interest Update

NOVONIX Limited Sponsored ADR (NASDAQ:NVX) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 3,432,979 shares, an increase of 38.2% from the December 31st total of 2,483,829 shares. Based on an average daily trading volume, of 1,970,224 shares, the short-interest ratio is currently 1.7 days. Approximately 2.1% of the shares of the stock are short sold. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,970,224 shares, the short-interest ratio is currently 1.7 days.

Institutional Investors Weigh In On NOVONIX

Several institutional investors have recently modified their holdings of NVX. Citadel Advisors LLC raised its stake in NOVONIX by 964.1% during the 3rd quarter. Citadel Advisors LLC now owns 109,374 shares of the company’s stock valued at $140,000 after buying an additional 99,095 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of NOVONIX by 335.1% in the 3rd quarter. Bank of America Corp DE now owns 72,972 shares of the company’s stock worth $93,000 after buying an additional 56,200 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of NOVONIX in the third quarter worth $65,000. Southeast Asset Advisors LLC purchased a new stake in NOVONIX during the third quarter valued at $35,000. Finally, GK Wealth Management LLC bought a new position in NOVONIX in the fourth quarter valued at about $26,000. 0.06% of the stock is owned by hedge funds and other institutional investors.

NOVONIX Stock Down 5.3%

NVX traded down $0.06 during trading on Friday, reaching $0.99. The stock had a trading volume of 1,107,988 shares, compared to its average volume of 1,641,892. NOVONIX has a one year low of $0.81 and a one year high of $3.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.90. The stock’s 50 day moving average is $1.14 and its two-hundred day moving average is $1.35.

Analysts Set New Price Targets

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

About NOVONIX

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.