NOVONIX (NASDAQ:NVX) Sets New 52-Week High - Should You Buy?

Key Points

• NOVONIX Limited stock reached a new 52-week high at $3.26, up from a previous close of $2.17, with a trading volume of over 6.5 million shares.
• Analysts have mixed views, with Weiss Ratings maintaining a "sell" rating while Wall Street Zen upgraded the stock to a "hold" rating.
• The company specializes in battery materials and technology for various industries, including automotive and consumer electronics, operating across multiple regions including North America and Europe.

NOVONIX Limited Sponsored ADR (NASDAQ:NVX - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $2.98 and last traded at $3.26, with a volume of 6540602 shares. The stock had previously closed at $2.17.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVX shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of NOVONIX in a research note on Wednesday. Wall Street Zen upgraded shares of NOVONIX to a "hold" rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of "Sell".

NOVONIX Trading Up 65.0%

The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average is $1.36 and its 200-day moving average is $1.25.

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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