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

NOVONIX Limited (NASDAQ:NVX - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 101,900 shares, a decrease of 35.7% from the March 15th total of 158,400 shares. Based on an average daily trading volume, of 68,100 shares, the days-to-cover ratio is currently 1.5 days.

NOVONIX Stock Performance

NVX stock traded down $0.27 during mid-day trading on Friday, reaching $2.84. 32,087 shares of the stock traded hands, compared to its average volume of 66,427. The company has a quick ratio of 11.12, a current ratio of 11.37 and a debt-to-equity ratio of 0.37. NOVONIX has a 52 week low of $1.40 and a 52 week high of $3.59. The business has a 50-day moving average of $2.34 and a two-hundred day moving average of $2.00.

Institutional Investors Weigh In On NOVONIX

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in NOVONIX during the fourth quarter valued at about $28,000. UBS Group AG boosted its holdings in NOVONIX by 6,798.0% during the first quarter. UBS Group AG now owns 6,898 shares of the company's stock valued at $25,000 after acquiring an additional 6,798 shares during the period. Toroso Investments LLC bought a new stake in shares of NOVONIX in the fourth quarter valued at about $493,000. Finally, Renaissance Technologies LLC bought a new stake in shares of NOVONIX in the second quarter valued at about $69,000. 0.06% of the stock is currently owned by 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.

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