Short Interest in NOVONIX Limited (NASDAQ:NVX) Grows By 95.6%

NOVONIX Limited (NASDAQ:NVX) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 66,500 shares, an increase of 95.6% from the September 30th total of 34,000 shares. Based on an average trading volume of 38,800 shares, the days-to-cover ratio is presently 1.7 days.

NOVONIX Stock Performance

Shares of NVX stock traded down $0.02 during mid-day trading on Friday, reaching $2.04. The stock had a trading volume of 50,404 shares, compared to its average volume of 59,604. NOVONIX has a 12-month low of $1.40 and a 12-month high of $3.10. The business has a 50-day simple moving average of $1.78 and a 200 day simple moving average of $1.93. The company has a current ratio of 6.15, a quick ratio of 5.94 and a debt-to-equity ratio of 0.44.

Institutional Trading of NOVONIX

A hedge fund recently raised its stake in NOVONIX stock. Virtu Financial LLC raised its holdings in NOVONIX Limited (NASDAQ:NVX) by 82.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,563 shares of the company’s stock after buying an additional 11,992 shares during the quarter. Virtu Financial LLC’s holdings in NOVONIX were worth $61,000 at the end of the most recent quarter. 0.06% of the stock is owned by hedge funds and other 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.