NOVONIX (NASDAQ:NVX) Trading Up 2.6% – Should You Buy?

NOVONIX Limited (NASDAQ:NVX) was up 2.6% during mid-day trading on Thursday . The company traded as high as $1.67 and last traded at $1.59. Approximately 297,563 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 200,853 shares. The stock had previously closed at $1.55.

NOVONIX Stock Down 8.2 %

The stock has a 50-day moving average of $1.70 and a 200-day moving average of $1.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.94 and a current ratio of 6.15.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NOVONIX stock. Jane Street Group LLC lifted its stake in shares of NOVONIX Limited (NASDAQ:NVX) by 103.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,495 shares of the company’s stock after acquiring an additional 17,541 shares during the quarter. Jane Street Group LLC’s holdings in NOVONIX were worth $63,000 at the end of the most recent reporting period. 0.06% of the stock is owned by institutional investors.

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.