NOVONIX (NASDAQ:NVX) Rating Lowered to “Sell” at Wall Street Zen

NOVONIX (NASDAQ:NVX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NOVONIX in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, NOVONIX has an average rating of “Sell”.

NOVONIX Stock Down 4.5%

NVX stock opened at $0.83 on Friday. The business’s 50-day moving average price is $1.05 and its 200-day moving average price is $1.27. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. NOVONIX has a twelve month low of $0.81 and a twelve month high of $3.86.

NOVONIX (NASDAQ:NVX) last released its earnings results on Thursday, January 29th. The company reported ($0.22) earnings per share (EPS) for the quarter. The company had revenue of $1.40 million for the quarter. As a group, research analysts predict that NOVONIX will post -0.44 EPS for the current year.

Institutional Trading of NOVONIX

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVX. Southeast Asset Advisors LLC purchased a new position in NOVONIX in the 3rd quarter worth approximately $35,000. Bank of America Corp DE grew its holdings in NOVONIX by 335.1% during the 3rd quarter. Bank of America Corp DE now owns 72,972 shares of the company’s stock valued at $93,000 after buying an additional 56,200 shares in the last quarter. Citadel Advisors LLC raised its position in shares of NOVONIX by 964.1% during the third quarter. Citadel Advisors LLC now owns 109,374 shares of the company’s stock valued at $140,000 after buying an additional 99,095 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of NOVONIX during the third quarter valued at approximately $65,000. Finally, GK Wealth Management LLC purchased a new position in shares of NOVONIX in the fourth quarter worth $26,000. 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.