NOVONIX (NASDAQ:NVX) Stock Price Down 2.8% – What’s Next?

NOVONIX Limited Sponsored ADR (NASDAQ:NVX) shares were down 2.8% during trading on Monday . The stock traded as low as $0.8277 and last traded at $0.86. Approximately 625,889 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 832,432 shares. The stock had previously closed at $0.8850.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NOVONIX in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NOVONIX presently has a consensus rating of “Sell”.

NOVONIX Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.93. The company has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $1.30.

Hedge Funds Weigh In On NOVONIX

Several institutional investors and hedge funds have recently modified their holdings of NVX. GK Wealth Management LLC purchased a new stake in shares of NOVONIX during the fourth quarter worth $26,000. OLD Mission Capital LLC purchased a new stake in shares of NOVONIX during the 4th quarter worth about $32,000. Southeast Asset Advisors LLC acquired a new stake in shares of NOVONIX during the 3rd quarter valued at about $35,000. Susquehanna International Group LLP acquired a new stake in shares of NOVONIX during the 3rd quarter valued at about $65,000. Finally, XY Capital Ltd bought a new stake in shares of NOVONIX in the 4th quarter valued at approximately $66,000. 0.06% of the stock is currently owned by hedge funds and other institutional investors.

About NOVONIX

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.