NOVONIX Limited (NASDAQ:NVX) Short Interest Down 31.8% in February

NOVONIX Limited (NASDAQ:NVX) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 503,700 shares, a drop of 31.8% from the January 31st total of 738,800 shares. Based on an average daily trading volume, of 216,900 shares, the days-to-cover ratio is presently 2.3 days.

Hedge Funds Weigh In On NOVONIX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new stake in shares of NOVONIX during the fourth quarter worth about $28,000. Jackson Hole Capital Partners LLC acquired a new stake in shares of NOVONIX during the fourth quarter worth about $45,000. Jane Street Group LLC raised its position in shares of NOVONIX by 103.5% during the third quarter. Jane Street Group LLC now owns 34,495 shares of the company’s stock worth $63,000 after purchasing an additional 17,541 shares during the period. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of NOVONIX during the fourth quarter worth about $99,000. Institutional investors own 0.06% of the company’s stock.

NOVONIX Stock Down 3.9 %

Shares of NASDAQ:NVX traded down $0.04 during midday trading on Tuesday, reaching $0.99. The company’s stock had a trading volume of 252,201 shares, compared to its average volume of 181,495. NOVONIX has a fifty-two week low of $0.97 and a fifty-two week high of $3.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.94 and a current ratio of 6.15. The business’s fifty day simple moving average is $1.59 and its 200-day simple moving average is $1.74.

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.