Short Interest in NOVONIX Limited Sponsored ADR (NASDAQ:NVX) Rises By 636.1%

NOVONIX Limited Sponsored ADR (NASDAQ:NVX) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 3,490,000 shares, an increase of 636.1% from the September 30th total of 474,100 shares. Based on an average daily volume of 2,440,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.2% of the shares of the company are short sold. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 2,440,000 shares, the days-to-cover ratio is currently 1.4 days.

NOVONIX Stock Down 9.9%

NVX opened at $1.63 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.90. The company’s 50 day simple moving average is $1.61 and its two-hundred day simple moving average is $1.36. NOVONIX has a 1-year low of $0.81 and a 1-year high of $3.86.

Analysts Set New Price Targets

Several research firms have commented on NVX. Wall Street Zen raised shares of NOVONIX to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of NOVONIX in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

About NOVONIX

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.