Novonix Ltd Adr Stock Beta
| NVX Stock | USD 1.93 0.01 0.52% |
Novonix Ltd ADR fundamentals help investors to digest information that contributes to Novonix's financial success or failures. It also enables traders to predict the movement of Novonix Stock. The fundamental analysis module provides a way to measure Novonix's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Novonix stock.
Novonix | Beta |
Novonix Ltd ADR Company Beta Analysis
Novonix's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Novonix Beta | 1.55 |
Most of Novonix's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Novonix Ltd ADR is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Novonix Beta Driver Correlations
Understanding the fundamental principles of building solid financial models for Novonix is extremely important. It helps to project a fair market value of Novonix Stock properly, considering its historical fundamentals such as Beta. Since Novonix's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Novonix's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Novonix's interrelated accounts and indicators.
Click cells to compare fundamentals
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Novonix Ltd ADR has a Beta of 1.55. This is 13.14% higher than that of the Machinery sector and significantly higher than that of the Industrials industry. The beta for all United States stocks is notably lower than that of the firm.
Novonix Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Novonix's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Novonix could also be used in its relative valuation, which is a method of valuing Novonix by comparing valuation metrics of similar companies.Novonix is currently under evaluation in beta category among its peers.
Novonix Current Valuation Drivers
We derive many important indicators used in calculating different scores of Novonix from analyzing Novonix's financial statements. These drivers represent accounts that assess Novonix's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Novonix's important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 404.1M | 1.0B | 1.1B | 715.3M | 358.3M | 350.7M | |
| Enterprise Value | 376.6M | 914.4M | 958.5M | 653.0M | 311.0M | 324.5M |
Novonix Institutional Holders
Institutional Holdings refers to the ownership stake in Novonix that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Novonix's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Novonix's value.| Shares | Td Waterhouse Canada Inc | 2024-06-30 | 2 K | Rise Advisors, Llc | 2024-09-30 | 456 | Dinuzzo Private Wealth Inc | 2024-09-30 | 250 | Ubs Group Ag | 2024-06-30 | 170 | Rhumbline Advisers | 2024-06-30 | 102 | Principal Securities Inc | 2024-09-30 | 100.0 | Simplex Trading, Llc | 2024-06-30 | 78.0 | Susquehanna International Group, Llp | 2024-06-30 | 0.0 | Savvy Advisors Inc | 2024-06-30 | 0.0 | Millennium Management Llc | 2024-06-30 | 668 K | Goldman Sachs Group Inc | 2024-06-30 | 271.4 K |
As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Novonix will likely underperform.
Novonix Fundamentals
| Return On Equity | -0.26 | ||||
| Return On Asset | -0.12 | ||||
| Operating Margin | (10.92) % | ||||
| Current Valuation | 262.46 M | ||||
| Shares Outstanding | 123.44 M | ||||
| Shares Owned By Institutions | 0.81 % | ||||
| Number Of Shares Shorted | 120.58 K | ||||
| Price To Earning | 5.23 X | ||||
| Price To Book | 1.50 X | ||||
| Price To Sales | 34.60 X | ||||
| Revenue | 8.05 M | ||||
| Gross Profit | 2.77 M | ||||
| EBITDA | (38.86 M) | ||||
| Net Income | (46.25 M) | ||||
| Cash And Equivalents | 207.08 M | ||||
| Cash Per Share | 1.71 X | ||||
| Total Debt | 68.22 M | ||||
| Debt To Equity | 0.17 % | ||||
| Current Ratio | 20.56 X | ||||
| Book Value Per Share | 0.32 X | ||||
| Cash Flow From Operations | (36.23 M) | ||||
| Short Ratio | 2.08 X | ||||
| Earnings Per Share | (0.38) X | ||||
| Target Price | 3.31 | ||||
| Beta | 1.55 | ||||
| Market Capitalization | 237.86 M | ||||
| Total Asset | 263.34 M | ||||
| Retained Earnings | (184.85 M) | ||||
| Working Capital | 81.31 M | ||||
| Net Asset | 263.34 M |
About Novonix Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Novonix Ltd ADR's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Novonix using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Novonix Ltd ADR based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
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When running Novonix's price analysis, check to measure Novonix's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Novonix is operating at the current time. Most of Novonix's value examination focuses on studying past and present price action to predict the probability of Novonix's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novonix's price. Additionally, you may evaluate how the addition of Novonix to your portfolios can decrease your overall portfolio volatility.