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

Key Points

• Short interest in NOVONIX Limited Sponsored ADR (NASDAQ:NVX) rose by **69.5%** in September, reaching a total of **474,100 shares** as of September 30th.
• Analyst ratings for NOVONIX are predominantly negative, with a consensus rating of **"Sell"** and a recent upgrade from Wall Street Zen to **"Hold".**
• The stock's current price is **$2.00**, down from a high of **$3.86** in the past year, indicating volatility in its performance.

NOVONIX Limited Sponsored ADR (NASDAQ:NVX - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 474,100 shares, an increase of 69.5% from the September 15th total of 279,700 shares. Based on an average daily trading volume, of 640,500 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 640,500 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of NOVONIX in a report on Wednesday, October 8th. Wall Street Zen raised NOVONIX to a "hold" rating in a report on Friday, September 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

NOVONIX Stock Performance

Shares of NASDAQ:NVX traded down $0.25 during trading on Tuesday, hitting $2.00. 4,938,802 shares of the company traded hands, compared to its average volume of 6,924,875. The business's fifty day moving average is $1.55 and its 200-day moving average is $1.32. NOVONIX has a one year low of $0.81 and a one year high of $3.86. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27.

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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