NOVONIX Stock Scheduled to Reverse Split on Thursday, August 27th (NASDAQ:NVX)

Key Points

• NOVONIX will execute a 1-for-10 reverse stock split before the market opens on Thursday, August 27, with shareholder holdings adjusted after the close on August 26.
• NVX shares recently traded at $0.44, near their 52-week low of $0.37 and well below the $3.86 high; the stock was up 3.2% in the reported session.
• Analyst sentiment remains negative: NOVONIX has a consensus “Sell” rating, while institutional investors own only 0.06% of the company.

Shares of NOVONIX Limited Sponsored ADR (NASDAQ:NVX - Free Report) are set to reverse split before the market opens on Thursday, August 27th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, August 26th.

NOVONIX Trading Up 3.2%

Shares of NVX opened at $0.44 on Friday. NOVONIX has a 52 week low of $0.37 and a 52 week high of $3.86. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $0.47 and a 200-day moving average of $0.67.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded NOVONIX from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NOVONIX currently has a consensus rating of "Sell".

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in shares of NOVONIX by 335.1% during the third quarter. Bank of America Corp DE now owns 72,972 shares of the company's stock valued at $93,000 after purchasing an additional 56,200 shares during the period. Citadel Advisors LLC lifted its holdings in NOVONIX by 964.1% in the third quarter. Citadel Advisors LLC now owns 109,374 shares of the company's stock worth $140,000 after purchasing an additional 99,095 shares during the period. Susquehanna International Group LLP acquired a new stake in NOVONIX in the third quarter worth about $65,000. XY Capital Ltd bought a new position in NOVONIX in the 4th quarter valued at about $66,000. Finally, Jane Street Group LLC bought a new position in NOVONIX in the 4th quarter valued at about $1,063,000. Institutional investors own 0.06% of the company's stock.

NOVONIX Company Profile

NOVONIX, trading under the NASDAQ ticker NVX, is a technology-driven company specializing in the development and production of advanced materials and testing solutions for the lithium-ion battery industry. The company's primary focus lies in supplying high-purity synthetic graphite anode materials and delivering comprehensive battery testing services to original equipment manufacturers (OEMs), research institutions, and battery producers worldwide. NOVONIX operates through two core divisions: NOVONIX Materials & Technology, which produces battery-grade graphite, and NOVONIX Battery Testing Solutions, which offers hardware and software platforms designed to accelerate battery research and development.

The Materials & Technology business segment manufactures spherical synthetic graphite anode products that meet rigorous industry standards for performance, consistency, and scalability.

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