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NOVONIX Ltd ( (AU:NVX) ) has provided an announcement.
NOVONIX Ltd announced the sale of its Mt Dromedary Natural Graphite Project to focus on synthetic graphite production, a key component in lithium-ion batteries. This strategic move aligns with their expansion plans in Chattanooga, Tennessee, where they aim to establish a domestic supply chain for synthetic graphite, enhancing their market position in North America. The sale is expected to streamline operations and support the company’s goal of becoming a leading supplier of synthetic graphite for the battery, defense, and industrial sectors.
The most recent analyst rating on (AU:NVX) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on NOVONIX Ltd stock, see the AU:NVX Stock Forecast page.
More about NOVONIX Ltd
NOVONIX is a leading battery technology company focused on revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies and high-performance materials. The company manufactures battery cell testing equipment, produces high-performance synthetic graphite material, and has developed a patented all-dry, zero-waste cathode synthesis process. NOVONIX has established a significant presence in the electric vehicle and energy storage systems battery industry, contributing to a cleaner energy future.
Average Trading Volume: 6,243,401
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$306.2M
Find detailed analytics on NVX stock on TipRanks’ Stock Analysis page.