NOVONIX (NASDAQ:NVX) Shares Down 1.4% - Time to Sell?

Shares of NOVONIX Limited Sponsored ADR (NASDAQ:NVX - Get Free Report) dropped 1.4% during mid-day trading on Wednesday . The company traded as low as $1.3750 and last traded at $1.39. Approximately 1,497,306 shares changed hands during trading, an increase of 10% from the average daily volume of 1,366,867 shares. The stock had previously closed at $1.41.Analyst Ratings ChangesA number of brokerages recently issued reports on NVX. Wall Street Zen raised NOVONIX to a "hold" rating in a report on Friday, September 26th. Weiss Ratings restated a "sell (e+)" rating on shares of NOVONIX in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".Read Our Latest Stock Analysis on NOVONIXNOVONIX Stock Down 1.4%The firm's 50 day simple moving average is $1.15 and its two-hundred day simple moving average is $1.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.90. Hedge Funds Weigh In On NOVONIXHedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC boosted its holdings in shares of NOVONIX by 964.1% during the 3rd quarter. Citadel Advisors LLC now owns 109,374 shares of the company's stock valued at $140,000 after purchasing an additional 99,095 shares during the last quarter. Bank of America Corp DE lifted its position in shares of NOVONIX by 335.1% in the third quarter. Bank of America Corp DE now owns 72,972 shares of the company's stock worth $93,000 after buying an additional 56,200 shares in the last quarter. Susquehanna International Group LLP bought a new position in NOVONIX during the third quarter valued at approximately $65,000. Southeast Asset Advisors LLC bought a new position in NOVONIX during the third quarter valued at approximately $35,000. Finally, GK Wealth Management LLC purchased a new position in NOVONIX during the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 0.06% of the company's stock. About NOVONIX (Get Free Report)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.Recommended StoriesFive stocks we like better than NOVONIXElon Taking SpaceX Public! $100 Pre-IPO Opportunity!How a Family Trust May Be Able To Help Preserve Your WealthA U.S. “birthright” claim worth trillions - activated quietlyExecutive Order 14330: Trump’s Biggest Yet“Fed Proof” Your Bank Account with THESE 4 Simple StepsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in NOVONIX Right Now?Before you consider NOVONIX, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NOVONIX wasn't on the list.While NOVONIX currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here