NOVONIX (NASDAQ:NVX) Trading Up 6.1% – Time to Buy?

NOVONIX Limited (NASDAQ:NVX)’s stock price rose 6.1% during mid-day trading on Thursday . The company traded as high as $1.93 and last traded at $1.91. Approximately 112,340 shares changed hands during trading, an increase of 34% from the average daily volume of 83,624 shares. The stock had previously closed at $1.80.

NOVONIX Price Performance

The company has a current ratio of 6.15, a quick ratio of 5.94 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average is $1.89 and its two-hundred day moving average is $1.81.

Institutional Investors Weigh In On NOVONIX

A hedge fund recently raised its stake in NOVONIX stock. Jane Street Group LLC grew its stake in NOVONIX Limited (NASDAQ:NVX) by 103.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 34,495 shares of the company’s stock after buying an additional 17,541 shares during the quarter. Jane Street Group LLC’s holdings in NOVONIX were worth $63,000 as of its most recent filing with the SEC. Institutional investors own 0.06% of the company’s stock.

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.