NOVONIX (NASDAQ:NVX) Shares Down 1% - Should You Sell?

NOVONIX Limited Sponsored ADR (NASDAQ:NVX - Get Free Report) dropped 1% during mid-day trading on Thursday . The stock traded as low as $0.99 and last traded at $1.03. Approximately 68,768 shares traded hands during trading, a decline of 35% from the average daily volume of 105,707 shares. The stock had previously closed at $1.04.

NOVONIX Stock Performance

The company has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $1.33. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.29.

Institutional Trading of NOVONIX

Several institutional investors and hedge funds have recently bought and sold shares of NVX. Two Sigma Securities LLC bought a new position in shares of NOVONIX during the fourth quarter valued at approximately $28,000. Jackson Hole Capital Partners LLC bought a new position in shares of NOVONIX during the fourth quarter valued at approximately $45,000. Finally, Quinn Opportunity Partners LLC bought a new position in shares of NOVONIX during the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 0.06% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.