NOVONIX (NASDAQ:NVX) Shares Set to Reverse Split on Thursday, August 27th

NOVONIX Limited Sponsored ADR (NASDAQ:NVX)’s stock is going to reverse split on the morning of Thursday, August 27th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, August 26th.

NOVONIX Stock Performance

NVX opened at $0.41 on Friday. The firm has a 50-day simple moving average of $0.44 and a two-hundred day simple moving average of $0.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.04. NOVONIX has a 52 week low of $0.37 and a 52 week high of $3.86.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded NOVONIX from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On NOVONIX

Several large investors have recently bought and sold shares of NVX. OLD Mission Capital LLC bought a new position in NOVONIX during the fourth quarter valued at $32,000. Susquehanna International Group LLP purchased a new position in shares of NOVONIX in the 3rd quarter worth $65,000. XY Capital Ltd bought a new stake in shares of NOVONIX in the 4th quarter worth about $66,000. Virtu Financial LLC increased its holdings in shares of NOVONIX by 316.5% in the 4th quarter. Virtu Financial LLC now owns 76,137 shares of the company’s stock worth $77,000 after buying an additional 57,859 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of 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. Institutional investors own 0.06% of the company’s stock.

NOVONIX Company Profile

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.