NOVONIX Ltd Sponsored ADR (NVX)
NASDAQ:NVX
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NOVONIX Ltd Sponsored ADR
(NASDAQ:NVX)
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Rating:43Neutral
Price Target:
$0.67
▼(-57.58% Downside)
Action:Reiterated
Date:05/23/26
The score is held down primarily by weak financial performance—worsening margins, expanding losses, and accelerating cash burn—despite strong revenue growth. Technicals add only modest support as the stock remains below key longer-term moving averages with a negative MACD. Valuation is limited by negative earnings and the absence of a dividend yield.
Positive Factors
Strategic U.S. supply‑chain positioning
NOVONIX is building a U.S. synthetic graphite supply chain and targets supplying EV and energy storage customers. Being a domestic supplier aligns with long‑term electrification and onshoring trends, improving access to large OEMs and policy incentives over multiple years.
Negative Factors
Deep negative margins
Margins swung deeply negative in 2025, reflecting product costs and low effective throughput. Persistent extreme negative margins show the business is not yet covering variable and fixed costs; profitability depends on successful scale, qualification and cost reduction over many quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic U.S. supply‑chain positioning
NOVONIX is building a U.S. synthetic graphite supply chain and targets supplying EV and energy storage customers. Being a domestic supplier aligns with long‑term electrification and onshoring trends, improving access to large OEMs and policy incentives over multiple years.
Read all positive factors
NOVONIX Ltd Sponsored ADR (NVX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$138.44M
Dividend YieldN/A
Average Volume (3M)4.38M
Price to Earnings (P/E)―
Beta (1Y)0.97
Revenue Growth-3.74%
EPS Growth9.32%
CountryUS
Employees210
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.73
Shares Outstanding215,556,950
10 Day Avg. Volume12,149,374
30 Day Avg. Volume4,376,663
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.10
Price to Sales (P/S)30.62
P/FCF Ratio-1.68
Enterprise Value/Market Cap1.30
Enterprise Value/Revenue30.87
Enterprise Value/Gross Profit-19.00
Enterprise Value/Ebitda-2.72
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.24
Revenue Forecast (FY)$147.40M
NOVONIX Ltd Sponsored ADR Business Overview & Revenue Model
Company Description
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. Th...
How the Company Makes Money
NOVONIX makes money primarily through (1) sales of battery anode materials and (2) fees from battery testing/technology services. In its materials business, the company generates revenue by manufacturing and selling synthetic graphite (and related...
NOVONIX Ltd Sponsored ADR Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
44
Neutral
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.84M | 5.62M | 5.85M | 8.05M | 3.69M | 6.10M |
| Gross Profit | -9.49M | -24.36M | 4.08M | 5.24M | -20.63M | 4.38M |
| EBITDA | -66.41M | -77.13M | -66.61M | -38.86M | -36.08M | -46.18M |
| Net Income | -74.63M | -92.79M | -74.82M | -46.25M | -38.63M | -51.86M |
Balance Sheet | ||||||
| Total Assets | 226.10M | 282.83M | 226.10M | 263.34M | 189.59M | 302.98M |
| Cash, Cash Equivalents and Short-Term Investments | 42.56M | 84.12M | 42.56M | 78.63M | 99.04M | 142.74M |
| Total Debt | 70.42M | 110.74M | 70.42M | 68.22M | 40.37M | 41.41M |
| Total Liabilities | 88.51M | 125.73M | 88.51M | 79.41M | 38.20M | 51.85M |
| Stockholders Equity | 137.59M | 157.10M | 137.59M | 183.94M | 151.39M | 251.13M |
Cash Flow | ||||||
| Free Cash Flow | -55.32M | -102.45M | -70.32M | -55.42M | -29.65M | -113.02M |
| Operating Cash Flow | -40.26M | -42.23M | -40.42M | -36.23M | -12.89M | -29.23M |
| Investing Cash Flow | -22.97M | -32.88M | -18.17M | -11.74M | -16.33M | -106.80M |
| Financing Cash Flow | 24.64M | 109.98M | 25.21M | 29.31M | -539.22K | 180.69M |
NOVONIX Ltd Sponsored ADR Technical Analysis
Positive
1.57
Price Trends
0.71
Negative
0.88
Negative
1.13
Negative
Market Momentum
-0.03
Positive
50.26
Neutral
41.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVX, the sentiment is Positive. The current price of 1.57 is above the 20-day moving average (MA) of 0.68, above the 50-day MA of 0.71, and above the 200-day MA of 1.13, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 50.26 is Neutral, neither overbought nor oversold. The STOCH value of 41.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NVX.
NOVONIX Ltd Sponsored ADR Risk Analysis
NOVONIX Ltd Sponsored ADR disclosed 1 risk factors in its most recent earnings report. NOVONIX Ltd Sponsored ADR reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NOVONIX Ltd Sponsored ADR Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $1.40B | -4.17 | -26.54% | ― | 48.29% | 11.56% | |
53 Neutral | $1.37B | -8.17 | -0.28% | ― | 49.88% | 27.54% | |
51 Neutral | $5.27B | -3.20 | -139.28% | ― | 15.19% | 42.87% | |
45 Neutral | $27.09M | -0.54 | -926.77% | ― | -73.24% | 53.32% | |
43 Neutral | $138.44M | -0.61 | -70.19% | ― | -3.74% | 9.32% | |
43 Neutral | $24.76M | -1.12 | 209.00% | ― | ― | 72.29% |
* Industrials Sector Average
NVX
NOVONIX Ltd Sponsored ADR
0.69
-0.62
-47.33%
FCEL
Fuelcell Energy
25.01
19.53
356.39%
PLUG
Plug Power
3.78
2.99
378.48%
GWH
ESS Tech
0.96
-1.01
-51.42%
ENVX
Enovix
6.68
-1.35
-16.81%
SDST
Stardust Power
2.65
-3.26
-55.16%
NOVONIX Ltd Sponsored ADR Corporate Events
NOVONIX Sharpened U.S. Synthetic Graphite Focus and Timelines at April 15, 2026 AGM
Apr 15, 2026
NOVONIX Limited used its April 15, 2026 Annual General Meeting in Brisbane to highlight a year of operational progress and strategic refocusing amid volatile global markets in 2025. The company reported delivery of its first mass-production, comme...
NOVONIX Wins US$103 Million U.S. Tax Credits for Chattanooga Synthetic Graphite Plant
Apr 14, 2026
NOVONIX Limited, a leading battery materials producer specializing in synthetic graphite for anode materials, is building out a North American supply chain from its Chattanooga, Tennessee headquarters to support U.S. energy independence and the br...
Novonix Sets April Hybrid AGM, Tables Equity and Board Resolutions
Mar 17, 2026
Novonix Limited has called its 2026 Annual General Meeting for 15 April 2026 at 9 a.m. Brisbane time, to be held as a hybrid event with both online and in‑person participation in Brisbane. Shareholders will receive the FY25 financial stateme...
NOVONIX Stays Course on U.S. Graphite Expansion After ITC Rejects New Duties on Chinese AAM
Mar 13, 2026
On March 13, 2026, NOVONIX Limited reported that the U.S. International Trade Commission concluded Chinese imports of anode active material do not materially impede the U.S. graphite industry, blocking new anti-dumping and countervailing duties de...
Novonix Issues Over 5.5 Million New Performance Rights to Executives Under Incentive Plan
Mar 13, 2026
On March 13, 2026, Novonix Ltd reported the issue of 5,517,712 unquoted performance rights under its employee incentive scheme, designated under the ASX security code NVXAD. The new performance rights, which rank equally with existing rights in th...
Novonix Discloses March 10 Director Share Sale in Form 6-K Filing
Mar 12, 2026
On March 12, 2026, Novonix Limited filed a Form 6-K with the U.S. Securities and Exchange Commission, notifying investors of a change in a director’s shareholding as required for foreign private issuers. The filing included an Appendix 3Y lo...
Novonix Adds 451,991 New ASX-Quoted Shares Following Employee Performance Rights Vesting
Mar 11, 2026
On March 11, 2026, Novonix Limited filed a Form 6-K in the United States and an Appendix 2A with the ASX documenting the quotation of 451,991 new ordinary fully paid shares under ticker NVX. These shares were issued at an estimated value of A$0.30...
Novonix Issues New Shares from Vested Employee Performance Rights
Mar 3, 2026
Novonix Limited, listed on the ASX under ticker NVX, reported updated capital information following the conversion of performance rights into ordinary fully paid shares on March 3, 2026. Following this issuance, the company’s quoted share ca...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.