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

NOVONIX Limited (NASDAQ:NVX - Get Free Report) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 360,000 shares, a growth of 36.1% from the December 15th total of 264,600 shares. Based on an average trading volume of 162,300 shares, the days-to-cover ratio is currently 2.2 days.

NOVONIX Price Performance

Shares of NASDAQ NVX traded down $0.08 during mid-day trading on Thursday, hitting $1.73. 179,457 shares of the company traded hands, compared to its average volume of 169,664. The company has a current ratio of 6.15, a quick ratio of 5.94 and a debt-to-equity ratio of 0.44. NOVONIX has a 1 year low of $1.40 and a 1 year high of $3.10. The business has a 50 day moving average of $1.89 and a two-hundred day moving average of $1.81.

Institutional Trading of NOVONIX

A hedge fund recently raised its stake in NOVONIX stock. Jane Street Group LLC lifted its position in NOVONIX Limited (NASDAQ:NVX - Free Report) by 103.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent filing with the SEC. 0.06% of the stock is owned by institutional investors.

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.

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