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

NOVONIX Limited (NASDAQ:NVX) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 78,300 shares, a decline of 35.1% from the October 31st total of 120,600 shares. Based on an average daily trading volume, of 60,900 shares, the short-interest ratio is presently 1.3 days.

NOVONIX Stock Performance

Shares of NVX traded down $0.71 during mid-day trading on Thursday, reaching $1.98. 416,408 shares of the stock traded hands, compared to its average volume of 64,309. The stock has a fifty day simple moving average of $1.99 and a 200 day simple moving average of $1.87. NOVONIX has a 12-month low of $1.40 and a 12-month high of $3.10. The company has a current ratio of 6.15, a quick ratio of 5.94 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On NOVONIX

A hedge fund recently raised its stake in NOVONIX stock. Jane Street Group LLC increased its stake in NOVONIX Limited (NASDAQ:NVX) by 103.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,495 shares of the company’s stock after purchasing 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 quarter. 0.06% of the stock is 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.