Tritium DCFC (NASDAQ:DCFC) Price Target Cut to $6.00 by Analysts at B. Riley

Tritium DCFC (NASDAQ:DCFC – Get Rating) had its price objective trimmed by B. Riley from $10.00 to $6.00 in a research report released on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on DCFC. Roth Capital dropped their price objective on shares of Tritium DCFC from $4.00 to $2.00 in a research note on Tuesday, January 17th. Credit Suisse Group cut their price target on shares of Tritium DCFC from $8.00 to $3.00 and set a neutral rating on the stock in a research note on Friday, January 13th. Raymond James dropped their price objective on Tritium DCFC from $7.00 to $4.00 and set an outperform rating for the company in a report on Wednesday, January 4th. Finally, DA Davidson dropped their price target on Tritium DCFC from $14.00 to $12.00 in a research note on Tuesday, September 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $6.83.

Tritium DCFC Stock Performance

DCFC stock opened at $1.46 on Tuesday. Tritium DCFC has a 52-week low of $1.03 and a 52-week high of $19.75. The stock’s fifty day simple moving average is $1.47 and its 200-day simple moving average is $3.68.

Hedge Funds Weigh In On Tritium DCFC

A number of hedge funds have recently bought and sold shares of the company. Varley Holdings PTY Ltd. acquired a new stake in shares of Tritium DCFC during the 2nd quarter valued at approximately $134,673,000. Invesco Ltd. acquired a new position in Tritium DCFC in the first quarter valued at approximately $24,370,000. First Trust Advisors LP bought a new position in shares of Tritium DCFC during the third quarter valued at approximately $3,161,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Tritium DCFC by 133.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 621,293 shares of the company’s stock worth $1,982,000 after purchasing an additional 355,593 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in shares of Tritium DCFC in the 2nd quarter worth approximately $1,292,000. 21.56% of the stock is currently owned by institutional investors and hedge funds.

Tritium DCFC Company Profile

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Tritium DCFC Limited designs, manufactures, and supplies direct current chargers for electric vehicles in the United States, North America, Europe, and the Asia Pacific. The company's charging station hardware portfolio includes various standalone chargers, such as 50, 75, 150, 175, and 350-kilowatt chargers.