NOVONIX (NASDAQ:NVX) Stock Price Up 17.4% - What's Next?

Key Points

• NOVONIX Limited stock surged by 17.4% during mid-day trading, reaching a high of $1.45 before closing at $1.39.
• An institutional investor, Two Sigma Securities LLC, recently purchased 15,487 shares of NOVONIX stock, valued at approximately $28,000.
• NOVONIX specializes in providing battery materials and development technology for manufacturers across various sectors, including automotive and consumer electronics.

Shares of NOVONIX Limited Sponsored ADR (NASDAQ:NVX - Get Free Report) were up 17.4% on Monday . The company traded as high as $1.45 and last traded at $1.39. Approximately 304,162 shares were traded during trading, a decline of 24% from the average daily volume of 400,755 shares. The stock had previously closed at $1.18.

NOVONIX Trading Up 3.1%

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.21 and a current ratio of 1.24. The stock's 50-day simple moving average is $1.23 and its two-hundred day simple moving average is $1.22.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NOVONIX stock. Two Sigma Securities LLC bought a new stake in NOVONIX Limited Sponsored ADR (NASDAQ:NVX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 15,487 shares of the company's stock, valued at approximately $28,000. 0.06% of the stock is currently owned by institutional investors and hedge funds.

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.