NOVONIX Limited (NASDAQ:NVX) Short Interest Update

NOVONIX Limited (NASDAQ:NVX) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 353,800 shares, a decrease of 29.8% from the February 13th total of 503,700 shares. Based on an average daily volume of 212,200 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.3% of the shares of the company are short sold.

Institutional Trading of NOVONIX

A number of hedge funds have recently added to or reduced their stakes in the business. Quinn Opportunity Partners LLC acquired a new position in shares of NOVONIX in the 4th quarter valued at about $99,000. Jane Street Group LLC raised its holdings in shares of NOVONIX by 103.5% during the 3rd quarter. Jane Street Group LLC now owns 34,495 shares of the company’s stock valued at $63,000 after buying an additional 17,541 shares during the period. Jackson Hole Capital Partners LLC purchased a new stake in shares of NOVONIX during the 4th quarter valued at about $45,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of NOVONIX during the 4th quarter valued at about $28,000. 0.06% of the stock is owned by institutional investors and hedge funds.

NOVONIX Stock Performance

Shares of NVX stock traded down $0.02 during mid-day trading on Monday, reaching $1.11. The stock had a trading volume of 46,970 shares, compared to its average volume of 102,285. NOVONIX has a 12-month low of $0.97 and a 12-month high of $3.10. The business has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.71. The company has a current ratio of 6.15, a quick ratio of 5.94 and a debt-to-equity ratio of 0.44.

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.