NOVONIX (NASDAQ:NVX) Earns Buy Rating from Analysts at Chardan Capital

Chardan Capital began coverage on shares of NOVONIX (NASDAQ:NVX - Get Free Report) in a note issued to investors on Thursday, Briefing.com reports. The firm set a "buy" rating and a $4.00 price target on the stock. Chardan Capital's target price indicates a potential upside of 104.08% from the company's current price.NOVONIX Stock Down 2.5 %Shares of NASDAQ:NVX opened at $1.96 on Thursday. The business's 50-day moving average is $2.37 and its 200-day moving average is $2.10. NOVONIX has a 1 year low of $1.40 and a 1 year high of $3.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 11.37 and a quick ratio of 11.12. Hedge Funds Weigh In On NOVONIXA hedge fund recently raised its stake in NOVONIX stock. Virtu Financial LLC increased its holdings in NOVONIX Limited (NASDAQ:NVX - Free Report) by 82.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,563 shares of the company's stock after buying an additional 11,992 shares during the period. 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 and hedge funds. About NOVONIX (Get Free Report)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.Recommended StoriesFive stocks we like better than NOVONIXWhat Are Trending Stocks? Trending Stocks ExplainedIs It Time to Lock in Profits on These 3 Overbought Stocks?Stock Market Holidays 2022-2025 - Here’s When the NYSE and NASDAQ Will be ClosedGigaCloud Technology Launches BaaS for B2B Marketplace PlatformHow to Find Undervalued StocksAbercrombie & Fitch First Quarter Earnings Surge to New HeightsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ The 7th Trillion Dollar Company? (From The Oxford Club) (Ad)Should you invest $1,000 in NOVONIX right now?Before you consider NOVONIX, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NOVONIX wasn't on the list.While NOVONIX currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here