Tritium DCFC (NASDAQ:DCFC) Rating Reiterated by Credit Suisse Group

Tritium DCFC (NASDAQ:DCFC – Get Rating)‘s stock had its “neutral” rating reiterated by equities researchers at Credit Suisse Group in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $3.00 price objective on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 140.00% from the company’s current price.

Several other analysts have also recently issued reports on the company. Roth Capital cut their price objective on Tritium DCFC from $4.00 to $2.00 in a research note on Tuesday, January 17th. Raymond James cut their price objective on Tritium DCFC from $7.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 4th. Finally, B. Riley cut their price objective on Tritium DCFC from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Tritium DCFC Stock Performance

Shares of NASDAQ DCFC opened at $1.25 on Wednesday. The stock’s 50 day moving average price is $1.54 and its two-hundred day moving average price is $2.39. Tritium DCFC has a 52-week low of $1.03 and a 52-week high of $10.55.

Hedge Funds Weigh In On Tritium DCFC

Several institutional investors have recently made changes to their positions in DCFC. Invesco Ltd. bought a new position in shares of Tritium DCFC during 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. Cigna Investments Inc. New bought a new position in shares of Tritium DCFC during the fourth quarter valued at approximately $1,552,000. JPMorgan Chase & Co. grew its holdings in shares of Tritium DCFC by 259.5% during the fourth quarter. JPMorgan Chase & Co. now owns 660,197 shares of the company’s stock valued at $1,109,000 after purchasing an additional 476,543 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Tritium DCFC by 133.8% in 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 buying an additional 355,593 shares in the last quarter. 21.56% of the stock is owned by institutional investors.

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.