NOVONIX Limited (NASDAQ:NVX) Sees Large Increase in Short Interest

NOVONIX Limited (NASDAQ:NVX) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 738,800 shares, a growth of 64.5% from the January 15th total of 449,000 shares. Based on an average daily volume of 208,500 shares, the days-to-cover ratio is currently 3.5 days.

NOVONIX Stock Down 2.8 %

NASDAQ NVX opened at $1.39 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.94 and a current ratio of 6.15. NOVONIX has a twelve month low of $1.37 and a twelve month high of $3.10. The stock’s 50 day moving average is $1.68 and its 200 day moving average is $1.77.

Institutional Investors Weigh In On NOVONIX

An institutional investor recently raised its position in NOVONIX stock. Jane Street Group LLC grew its stake in NOVONIX Limited (NASDAQ:NVX) by 103.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,495 shares of the company’s stock after acquiring an additional 17,541 shares during the quarter. Jane Street Group LLC’s holdings in NOVONIX were worth $63,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.06% of the company’s stock.

NOVONIX Company Profile

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.