NOVONIX (NASDAQ:NVX) Shares Down 1% – Should You Sell?

NOVONIX Limited Sponsored ADR (NASDAQ:NVX)’s stock price fell 1% during trading on Thursday . The stock traded as low as $0.99 and last traded at $1.03. 68,768 shares were traded during trading, a decline of 35% from the average session volume of 105,707 shares. The stock had previously closed at $1.04.

NOVONIX Price Performance

The company has a fifty day moving average price of $1.19 and a 200 day moving average price of $1.33. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On NOVONIX

Several institutional investors have recently made changes to their positions in NVX. Quinn Opportunity Partners LLC bought a new position in shares of NOVONIX during the fourth quarter valued at approximately $99,000. Jackson Hole Capital Partners LLC bought a new position in NOVONIX in the 4th quarter worth approximately $45,000. Finally, Two Sigma Securities LLC bought a new position in NOVONIX in the 4th quarter worth approximately $28,000. 0.06% of the stock is owned by institutional investors.

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.