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

NOVONIX Limited (NASDAQ:NVX) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 243,600 shares, an increase of 211.1% from the November 15th total of 78,300 shares. Based on an average daily trading volume, of 74,900 shares, the days-to-cover ratio is currently 3.3 days.

NOVONIX Price Performance

Shares of NOVONIX stock traded down $0.06 during trading on Wednesday, hitting $1.61. The company’s stock had a trading volume of 89,631 shares, compared to its average volume of 65,982. 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 52 week low of $1.40 and a 52 week high of $3.10. The company has a fifty day simple moving average of $2.03 and a two-hundred day simple moving average of $1.84.

Institutional Trading of NOVONIX

An institutional investor recently raised its position in NOVONIX stock. Jane Street Group LLC boosted its position in shares of NOVONIX Limited (NASDAQ:NVX) by 103.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,495 shares of the company’s stock after acquiring an additional 17,541 shares during the quarter. Jane Street Group LLC’s holdings in NOVONIX were worth $63,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.