NOVONIX Limited (NASDAQ:NVX) Sees Large Increase in Short Interest

NOVONIX Limited (NASDAQ:NVX) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 120,600 shares, an increase of 81.4% from the October 15th total of 66,500 shares. Based on an average daily trading volume, of 44,400 shares, the short-interest ratio is presently 2.7 days.

NOVONIX Price Performance

NASDAQ:NVX traded down $0.05 during trading hours on Wednesday, reaching $2.14. 30,603 shares of the company’s stock were exchanged, compared to its average volume of 60,129. The company has a quick ratio of 5.94, a current ratio of 6.15 and a debt-to-equity ratio of 0.44. NOVONIX has a 1-year low of $1.40 and a 1-year high of $3.10. The company has a 50-day moving average of $1.85 and a 200 day moving average of $1.88.

Hedge Funds Weigh In On NOVONIX

A hedge fund recently raised its stake in NOVONIX stock. Virtu Financial LLC grew its position in NOVONIX Limited (NASDAQ:NVX) by 82.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,563 shares of the company’s stock after acquiring an additional 11,992 shares during the period. Virtu Financial LLC’s holdings in NOVONIX were worth $61,000 at the end of the most recent quarter. 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.