Tritium DCFC (NASDAQ:DCFC) Price Target Cut to $3.00

Tritium DCFC (NASDAQ:DCFCGet Rating) had its target price decreased by equities researchers at Credit Suisse Group from $8.00 to $3.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “neutral” rating on the stock. Credit Suisse Group’s target price would indicate a potential upside of 101.34% from the company’s previous close.

Other analysts have also recently issued reports about the company. Raymond James cut their price objective on Tritium DCFC from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, January 4th. DA Davidson lowered their price objective on Tritium DCFC from $14.00 to $12.00 in a research note on Tuesday, September 27th. Finally, Roth Capital lowered Tritium DCFC from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $4.00 in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.17.

Tritium DCFC Trading Down 2.6 %

Shares of DCFC stock opened at $1.49 on Friday. The stock has a 50 day moving average of $1.51 and a 200 day moving average of $3.92. Tritium DCFC has a twelve month low of $1.03 and a twelve month high of $19.75.

Hedge Funds Weigh In On Tritium DCFC

Several large investors have recently modified their holdings of the business. Toroso Investments LLC acquired a new position in Tritium DCFC during the 3rd quarter worth about $32,000. State Street Corp acquired a new position in Tritium DCFC during the 3rd quarter worth about $149,000. Two Sigma Investments LP purchased a new stake in Tritium DCFC during the 3rd quarter worth about $116,000. Prelude Capital Management LLC increased its holdings in Tritium DCFC by 142.2% during the 3rd quarter. Prelude Capital Management LLC now owns 154,608 shares of the company’s stock worth $493,000 after purchasing an additional 90,776 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Tritium DCFC during the 3rd quarter worth about $3,161,000. Institutional investors and hedge funds own 21.56% of the company’s stock.

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.

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Analyst Recommendations for Tritium DCFC (NASDAQ:DCFC)

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