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

NOVONIX Limited Sponsored ADR (NASDAQ:NVX) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 403,821 shares, a decline of 89.9% from the August 15th total of 4,015,976 shares. Based on an average daily volume of 39,452 shares, the short-interest ratio is presently 10.2 days. Currently, 2.1% of the company’s shares are short sold.

NOVONIX Stock Performance

Shares of NVX traded up $0.07 during trading hours on Friday, reaching $2.98. 9,101 shares of the company traded hands, compared to its average volume of 53,473. The stock’s fifty day moving average price is $3.96 and its 200 day moving average price is $5.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.20. NOVONIX has a 12-month low of $2.65 and a 12-month high of $38.60.

NOVONIX (NASDAQ:NVX) last announced its quarterly earnings data on Friday, July 31st. The company reported ($0.06) earnings per share for the quarter. As a group, sell-side analysts expect that NOVONIX will post -2.7 earnings per share for the current year.

Institutional Trading of NOVONIX

Several institutional investors and hedge funds have recently modified their holdings of the stock. OLD Mission Capital LLC purchased a new position in NOVONIX during the 4th quarter worth $32,000. Susquehanna International Group LLP bought a new stake in shares of NOVONIX in the third quarter valued at about $65,000. XY Capital Ltd purchased a new stake in NOVONIX in the fourth quarter worth about $66,000. Virtu Financial LLC grew its holdings in NOVONIX by 316.5% during the 4th quarter. Virtu Financial LLC now owns 76,137 shares of the company’s stock worth $77,000 after acquiring an additional 57,859 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in NOVONIX by 335.1% during the 3rd quarter. Bank of America Corp DE now owns 72,972 shares of the company’s stock worth $93,000 after acquiring an additional 56,200 shares in the last quarter. Institutional investors own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut NOVONIX from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus 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.