NOVONIX Limited Sponsored ADR (NASDAQ:NVX) Short Interest Up 38.2% in January

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

NOVONIX Stock Down 4.5%

NVX stock traded down $0.04 on Monday, hitting $0.94. The company had a trading volume of 981,560 shares, compared to its average volume of 1,642,083. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $1.14 and its 200 day simple moving average is $1.35. NOVONIX has a 12-month low of $0.81 and a 12-month high of $3.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Southeast Asset Advisors LLC purchased a new stake in shares of NOVONIX during the 3rd quarter valued at about $35,000. Bank of America Corp DE increased its holdings in NOVONIX by 335.1% during the third quarter. Bank of America Corp DE now owns 72,972 shares of the company’s stock valued at $93,000 after buying an additional 56,200 shares during the last quarter. Citadel Advisors LLC increased its holdings in NOVONIX by 964.1% during 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 last quarter. Susquehanna International Group LLP bought a new position in NOVONIX in the third quarter worth approximately $65,000. Finally, GK Wealth Management LLC purchased a new position in shares of NOVONIX during the 4th quarter worth $26,000. 0.06% of the stock is owned by hedge funds and other institutional investors.

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.