Chardan Capital Initiates Coverage on NOVONIX (NASDAQ:NVX)

Chardan Capital began coverage on shares of NOVONIX (NASDAQ:NVX) in a research note published on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $4.00 target price on the stock.

NOVONIX Stock Down 0.5 %

Shares of NVX opened at $1.91 on Thursday. The company has a current ratio of 11.37, a quick ratio of 11.12 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $2.36 and its two-hundred day moving average price is $2.10. NOVONIX has a 52 week low of $1.40 and a 52 week high of $3.59.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NOVONIX stock. Virtu Financial LLC increased its holdings in shares of NOVONIX Limited (NASDAQ:NVX) by 82.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,563 shares of the company’s stock after buying an additional 11,992 shares during the quarter. Virtu Financial LLC’s holdings in NOVONIX were worth $61,000 as of its most recent SEC filing. 0.06% of the stock is currently owned by institutional investors.

NOVONIX Company Profile

NOVONIX Limited provides battery materials and development technology for battery manufacturers, materials companies, automotive original equipment manufacturers (OEMs), and consumer electronics manufacturers in North America, Asia, Australia, and Europe. It operates through Battery Materials and Battery Technology segments.