Short Interest in NOVONIX Limited (NASDAQ:NVX) Expands By 64.5%

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

Hedge Funds Weigh In On NOVONIX

A number of large investors have recently bought and sold shares of NVX. Two Sigma Securities LLC purchased a new position in NOVONIX during the fourth quarter worth approximately $28,000. Jackson Hole Capital Partners LLC purchased a new position in NOVONIX during the fourth quarter worth approximately $45,000. Jane Street Group LLC raised its stake in NOVONIX by 103.5% during the third quarter. Jane Street Group LLC now owns 34,495 shares of the company's stock worth $63,000 after purchasing an additional 17,541 shares during the period. Finally, Quinn Opportunity Partners LLC purchased a new position in NOVONIX during the fourth quarter worth approximately $99,000. Hedge funds and other institutional investors own 0.06% of the company's stock.

NOVONIX Price Performance

NASDAQ:NVX traded up $0.04 during trading hours on Friday, reaching $1.44. 136,990 shares of the company were exchanged, compared to its average volume of 200,063. 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 52-week low of $1.37 and a 52-week high of $3.10. The stock has a 50 day simple moving average of $1.66 and a 200 day simple moving average of $1.77.

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.