NOVONIX (NASDAQ:NVX) Stock Price Down 1.3% – What’s Next?

Shares of NOVONIX Limited Sponsored ADR (NASDAQ:NVX) traded down 1.3% on Friday . The stock traded as low as $0.3998 and last traded at $0.4134. 110,942 shares were traded during trading, a decline of 55% from the average session volume of 247,612 shares. The stock had previously closed at $0.4187.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of NOVONIX in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

NOVONIX Trading Down 1.3%

The company’s fifty day moving average price is $0.57 and its 200 day moving average price is $0.79. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On NOVONIX

A number of hedge funds have recently added to or reduced their stakes in NVX. Bank of America Corp DE raised its holdings in NOVONIX by 335.1% in the 3rd quarter. Bank of America Corp DE now owns 72,972 shares of the company’s stock valued at $93,000 after acquiring an additional 56,200 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of NOVONIX by 964.1% during the 3rd quarter. Citadel Advisors LLC now owns 109,374 shares of the company’s stock worth $140,000 after purchasing an additional 99,095 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of NOVONIX during the 3rd quarter worth $65,000. GK Wealth Management LLC bought a new position in shares of NOVONIX in the fourth quarter worth $26,000. Finally, XY Capital Ltd bought a new position in shares of NOVONIX in the fourth quarter worth $66,000. Institutional investors own 0.06% of the company’s stock.

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.