NOVONIX (OTCMKTS:NVNXF) Shares Down 2.5% – Should You Sell?

Shares of NOVONIX Limited (OTCMKTS:NVNXF) fell 2.5% during trading on Monday . The stock traded as low as $0.2163 and last traded at $0.2339. 157,506 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 138,164 shares. The stock had previously closed at $0.2398.

NOVONIX Stock Performance

The business has a 50 day simple moving average of $0.27 and a two-hundred day simple moving average of $0.33. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

NOVONIX Company Profile

NOVONIX is a Canada-based company that develops and manufactures advanced materials, equipment and services for the lithium-ion battery market. The company’s core business activities center on the production of ultra-high-purity synthetic graphite used in the anodes of electric vehicle (EV) batteries, as well as the design and fabrication of battery test systems. NOVONIX’s proprietary graphite purification technology aims to meet the stringent requirements of global automotive OEMs and battery manufacturers seeking improved energy density, cycle life and fast‐charging performance.

In addition to material production, NOVONIX offers an integrated suite of battery testing products and laboratory services.