NOVONIX (NASDAQ:NVX) Shares Down 2.8% – Here’s What Happened

Shares of NOVONIX Limited Sponsored ADR (NASDAQ:NVX) traded down 2.8% during trading on Monday . The company traded as low as $0.8277 and last traded at $0.86. 625,889 shares were traded during trading, a decline of 25% from the average session volume of 832,432 shares. The stock had previously closed at $0.8850.

Wall Street Analysts Forecast Growth

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

NOVONIX Price Performance

The company’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVX. GK Wealth Management LLC acquired a new stake in shares of NOVONIX during the 4th quarter valued at $26,000. Southeast Asset Advisors LLC purchased a new stake in shares of NOVONIX during the third quarter valued at $35,000. OLD Mission Capital LLC acquired a new position in shares of NOVONIX in the 4th quarter valued at $32,000. Susquehanna International Group LLP purchased a new position in NOVONIX in the 3rd quarter worth about $65,000. Finally, XY Capital Ltd acquired a new stake in NOVONIX during the 4th quarter worth about $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.