Tritium DCFC (NASDAQ:DCFC) Downgraded to “Neutral” at Roth Capital

Tritium DCFC (NASDAQ:DCFCGet Rating) was downgraded by Roth Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $4.00 price target on the stock. Roth Capital’s target price indicates a potential upside of 2.83% from the company’s previous close.

A number of other research analysts have also issued reports on the company. B. Riley started coverage on Tritium DCFC in a research report on Friday, June 17th. They set a “buy” rating and a $12.00 price objective for the company. Raymond James cut their target price on Tritium DCFC from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 12th. Finally, Credit Suisse Group started coverage on Tritium DCFC in a research note on Wednesday, September 7th. They issued a “neutral” rating and a $8.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.40.

Tritium DCFC Stock Performance

NASDAQ:DCFC opened at $3.89 on Friday. Tritium DCFC has a 12-month low of $3.55 and a 12-month high of $19.75. The business has a 50 day simple moving average of $6.57 and a 200 day simple moving average of $7.48.

Institutional Investors Weigh In On Tritium DCFC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Varley Holdings PTY Ltd. bought a new stake in Tritium DCFC in the second quarter worth about $134,673,000. Invesco Ltd. bought a new stake in shares of Tritium DCFC in the 1st quarter worth approximately $24,370,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tritium DCFC in the 1st quarter worth approximately $2,668,000. Vontobel Holding Ltd. acquired a new stake in Tritium DCFC during the second quarter valued at approximately $1,292,000. Finally, Bank of America Corp DE bought a new stake in Tritium DCFC during the first quarter worth approximately $1,622,000. Institutional investors own 21.56% of the company’s stock.

Tritium DCFC Company Profile

(Get Rating)

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

Further Reading

Analyst Recommendations for Tritium DCFC (NASDAQ:DCFC)

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