NOVONIX Stock Set to Reverse Split on Thursday, August 27th (NASDAQ:NVX)

Shares of NOVONIX Limited Sponsored ADR (NASDAQ:NVX) are scheduled to reverse split on the morning of Thursday, August 27th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, August 26th.

NOVONIX Trading Up 3.2%

NVX opened at $0.44 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average is $0.47 and its two-hundred day moving average is $0.67. NOVONIX has a 1 year low of $0.37 and a 1 year high of $3.86.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of NOVONIX from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NOVONIX has a consensus rating of “Sell”.

Institutional Trading of NOVONIX

A number of institutional investors have recently made changes to their positions in the business. OLD Mission Capital LLC purchased a new position in NOVONIX during the 4th quarter worth $32,000. Susquehanna International Group LLP purchased a new stake in NOVONIX in the third quarter valued at about $65,000. XY Capital Ltd purchased a new stake in NOVONIX in the fourth quarter valued at about $66,000. Virtu Financial LLC raised its stake in NOVONIX by 316.5% in the fourth quarter. Virtu Financial LLC now owns 76,137 shares of the company’s stock valued at $77,000 after buying an additional 57,859 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in NOVONIX by 335.1% in the third 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 and hedge funds own 0.06% of the company’s stock.

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.