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

NOVONIX Limited (NASDAQ:NVX) was the target of a large drop in short interest during the month of 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.

Institutional Investors Weigh In On NOVONIX

A number of hedge funds and other institutional investors have recently bought and sold shares of NVX. Quinn Opportunity Partners LLC acquired a new stake in NOVONIX in the 4th quarter valued at approximately $99,000. Jackson Hole Capital Partners LLC acquired a new stake in NOVONIX in the 4th quarter valued at approximately $45,000. Jane Street Group LLC raised its position in NOVONIX by 103.5% in the 3rd quarter. Jane Street Group LLC now owns 34,495 shares of the company’s stock valued at $63,000 after buying an additional 17,541 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in NOVONIX in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 0.06% of the company’s stock.

NOVONIX Price Performance

NOVONIX stock traded down $0.04 during midday trading on Tuesday, reaching $0.99. The stock had a trading volume of 252,201 shares, compared to its average volume of 181,495. The firm’s fifty day simple moving average is $1.59 and its 200-day simple moving average is $1.74. NOVONIX has a 1-year low of $0.97 and a 1-year high of $3.10. 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 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.