NOVONIX Limited (NASDAQ:NVX) Short Interest Down 29.8% in February

NOVONIX Limited (NASDAQ:NVX) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 353,800 shares, a drop of 29.8% from the February 13th total of 503,700 shares. Based on an average trading volume of 212,200 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.3% of the company’s shares are short sold.

NOVONIX Trading Up 1.8 %

Shares of NASDAQ:NVX traded up $0.02 during trading on Tuesday, hitting $1.13. The company’s stock had a trading volume of 3,538 shares, compared to its average volume of 101,888. 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 fifty-two week low of $0.97 and a fifty-two week high of $3.10. The stock’s 50-day moving average price is $1.44 and its two-hundred day moving average price is $1.71.

Hedge Funds Weigh In On NOVONIX

Several institutional investors have recently made changes to their positions in NVX. Jane Street Group LLC raised its holdings in NOVONIX by 103.5% during the 3rd quarter. Jane Street Group LLC now owns 34,495 shares of the company’s stock worth $63,000 after buying an additional 17,541 shares during the period. Jackson Hole Capital Partners LLC bought a new stake in shares of NOVONIX during the fourth quarter worth $45,000. Quinn Opportunity Partners LLC bought a new position in NOVONIX in the fourth quarter valued at about $99,000. Finally, Two Sigma Securities LLC bought a new position in NOVONIX in the fourth quarter valued at about $28,000. 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.