Novonix Limited (NASDAQ:NVX) to Post FY2022 Earnings of ($0.03) Per Share, Zacks Small Cap Forecasts

Novonix Limited (NASDAQ:NVXGet Rating) – Investment analysts at Zacks Small Cap raised their FY2022 earnings estimates for Novonix in a note issued to investors on Wednesday, August 10th. Zacks Small Cap analyst M. Marin now forecasts that the company will post earnings of ($0.03) per share for the year, up from their prior forecast of ($0.05). The consensus estimate for Novonix’s current full-year earnings is ($0.03) per share.

Novonix Stock Performance

NASDAQ:NVX opened at $8.34 on Monday. Novonix has a 12 month low of $5.46 and a 12 month high of $24.00. The company has a current ratio of 54.10, a quick ratio of 53.38 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $7.29.

Hedge Funds Weigh In On Novonix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of Novonix in the second quarter worth about $69,000. AM Investment Strategies LLC bought a new position in shares of Novonix in the second quarter worth about $402,000. Finally, Scholtz & Company LLC bought a new position in shares of Novonix in the first quarter worth about $328,000.

Novonix Company Profile

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Novonix Limited develops and supplies battery materials, equipment, and services to the lithium-ion battery market in North America. It operates through three segments: Graphite Exploration and Mining, Battery Technology, and Battery Materials. The Graphite Exploration and Mining segment explores for graphite in Australia.

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