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

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 shares of the company are sold short. Based on an average daily volume of 1,970,224 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 1,970,224 shares, the short-interest ratio is currently 1.7 days. Approximately 2.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVX. Citadel Advisors LLC lifted its position in shares of NOVONIX by 964.1% in the third quarter. Citadel Advisors LLC now owns 109,374 shares of the company’s stock worth $140,000 after buying an additional 99,095 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of 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. Susquehanna International Group LLP bought a new position in shares of NOVONIX during the 3rd quarter valued at approximately $65,000. Southeast Asset Advisors LLC purchased a new position in shares of NOVONIX in the third quarter valued at $35,000. Finally, GK Wealth Management LLC bought a new stake in NOVONIX in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 0.06% of the company’s stock.

NOVONIX Stock Down 4.5%

NVX stock opened at $0.94 on Tuesday. The business’s 50-day moving average price is $1.14 and its 200-day moving average price is $1.35. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27. NOVONIX has a twelve month low of $0.81 and a twelve month high of $3.86.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NOVONIX in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, NOVONIX currently 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.