Tritium DCFC (NASDAQ:DCFC) Shares Down 8.3%

Tritium DCFC Limited (NASDAQ:DCFC – Get Rating) was down 8.3% on Thursday . The stock traded as low as $1.00 and last traded at $1.00. Approximately 694,187 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,574,544 shares. The stock had previously closed at $1.09.

Analysts Set New Price Targets

Several equities analysts have weighed in on DCFC shares. Credit Suisse Group reissued a “neutral” rating and set a $3.00 price target on shares of Tritium DCFC in a research report on Wednesday, March 15th. B. Riley decreased their price objective on Tritium DCFC from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, January 24th. Finally, Raymond James decreased their price objective on Tritium DCFC from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday, April 5th.

Tritium DCFC Stock Down 8.3 %

The stock has a 50 day simple moving average of $1.08 and a 200 day simple moving average of $1.40.

Hedge Funds Weigh In On Tritium DCFC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prentice Wealth Management LLC acquired a new position in shares of Tritium DCFC during the fourth quarter worth approximately $45,000. Prelude Capital Management LLC lifted its position in Tritium DCFC by 142.2% in the third 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. Boothbay Fund Management LLC lifted its position in Tritium DCFC by 128.8% in the third quarter. Boothbay Fund Management LLC now owns 139,558 shares of the company’s stock worth $445,000 after purchasing an additional 78,561 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Tritium DCFC by 133.8% in the third 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, Wolverine Asset Management LLC lifted its position in Tritium DCFC by 169.2% in the third quarter. Wolverine Asset Management LLC now owns 10,141 shares of the company’s stock worth $32,000 after purchasing an additional 6,374 shares during the period. 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.