Short Interest in NOVONIX Limited Sponsored ADR (NASDAQ:NVX) Grows By 22.0%

NOVONIX Limited Sponsored ADR (NASDAQ:NVX) saw a large increase in short interest during 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 volume of 906,856 shares, the days-to-cover ratio is currently 4.4 days. Approximately 2.4% of the company’s stock are sold short. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 906,856 shares, the days-to-cover ratio is currently 4.4 days.

NOVONIX Stock Performance

NVX stock traded down $0.05 during mid-day trading on Thursday, reaching $0.86. 318,242 shares of the stock traded hands, compared to its average volume of 1,158,528. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $1.06 and a two-hundred day moving average of $1.28. NOVONIX has a 52 week low of $0.81 and a 52 week high of $3.86.

NOVONIX (NASDAQ:NVX) last announced its earnings results on Thursday, January 29th. The company reported ($0.22) earnings per share for the quarter. The company had revenue of $1.40 million during the quarter. On average, research analysts predict that NOVONIX will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NOVONIX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in NOVONIX in the 4th quarter valued at $1,063,000. XTX Topco Ltd raised its position in shares of NOVONIX by 388.0% during the fourth quarter. XTX Topco Ltd now owns 270,796 shares of the company’s stock valued at $274,000 after buying an additional 215,305 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of NOVONIX by 964.1% in the third 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 period. Quadrature Capital Ltd acquired a new stake in NOVONIX during the fourth quarter worth about $97,000. Finally, XY Capital Ltd bought a new position in NOVONIX during the fourth quarter valued at about $66,000. Institutional investors own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

NOVONIX Company Profile

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.