Yes, remove the VM from the inventory, copy the other files over to the new folder (using the cp command or e.g. WinSCP), add the copied VM to the inventory and select "I moved it" when you power on the VM for the first time (to preserve the VM's UUID and MAC address).
I assume there are no entries with absolute paths in the VM's .vmx file and you don't have active snapshots on the VMs.
André