NOVONIX Limited (NASDAQ:NVX) Short Interest Down 29.8% in February

NOVONIX Limited (NASDAQ:NVX) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 353,800 shares, a decrease of 29.8% from the February 13th total of 503,700 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 212,200 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Investors Weigh In On NOVONIX

Institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Securities LLC bought a new position in NOVONIX in the fourth quarter worth approximately $28,000. Jackson Hole Capital Partners LLC bought a new stake in NOVONIX during the fourth quarter worth $45,000. Jane Street Group LLC increased its position in NOVONIX by 103.5% in the third quarter. Jane Street Group LLC now owns 34,495 shares of the company’s stock worth $63,000 after buying an additional 17,541 shares during the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new stake in NOVONIX in the fourth quarter worth $99,000. Institutional investors and hedge funds own 0.06% of the company’s stock.

NOVONIX Price Performance

Shares of NVX stock traded up $0.02 on Tuesday, hitting $1.13. 3,538 shares of the company’s stock were exchanged, compared to its average volume of 101,888. The company has a debt-to-equity ratio of 0.44, a current ratio of 6.15 and a quick ratio of 5.94. NOVONIX has a 12 month low of $0.97 and a 12 month high of $3.10. The company has a 50 day moving average of $1.44 and a 200 day moving average of $1.71.

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.