Short Interest in NOVONIX Limited (NASDAQ:NVX) Decreases By 14.6%

NOVONIX Limited (NASDAQ:NVX) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 447,600 shares, a decrease of 14.6% from the April 30th total of 524,300 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 98,700 shares, the short-interest ratio is presently 4.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC acquired a new stake in shares of NOVONIX during the fourth quarter worth $28,000. Jackson Hole Capital Partners LLC purchased a new position in NOVONIX during the fourth quarter worth about $45,000. Finally, Quinn Opportunity Partners LLC purchased a new stake in NOVONIX in the 4th quarter valued at approximately $99,000. 0.06% of the stock is currently owned by hedge funds and other institutional investors.

NOVONIX Trading Down 1.4%

NASDAQ NVX opened at $1.08 on Wednesday. The business’s 50-day moving average price is $1.16 and its 200 day moving average price is $1.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 6.15 and a quick ratio of 5.94. NOVONIX has a 52-week low of $0.81 and a 52-week high of $2.73.

NOVONIX Company Profile

NOVONIX Limited provides battery materials and development technology for battery manufacturers, materials companies, automotive original equipment manufacturers (OEMs), and consumer electronics manufacturers in North America, Asia, Australia, and Europe. It operates through Battery Materials and Battery Technology segments.