Chardan has initiated coverage on NOVONIX with a buy rating and 12 month price target of $4

Chardan has initiated coverage on NOVONIX with a buy rating and 12 month price target of $4 on the belief shares are poised to outperform as NVX enters full-scale synthetic graphite production in the back-half of next year. Importantly, the company's established relationships provide it an opportunity to grow with key OEM manufacturers. NOVONIX Limited is segmented into business units: Battery Technology Solutions (including cathodes) and Anode Materials, and cathode materials. Current plans target a significant build out in North America through a Riverside facility in Chattanooga, Tennessee. The company is headquartered in Brisbane, Australia.