Tritium DCFC Limited (NASDAQ:DCFC – Get Rating) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,590,000 shares, a decrease of 20.9% from the July 15th total of 2,010,000 shares. Based on an average daily trading volume, of 258,000 shares, the short-interest ratio is currently 6.2 days. Approximately 2.1% of the company’s shares are short sold.
Tritium DCFC Stock Performance
Shares of NASDAQ:DCFC traded up $1.18 during mid-day trading on Friday, reaching $8.30. 662,901 shares of the company were exchanged, compared to its average volume of 255,270. The firm’s 50-day simple moving average is $6.48 and its 200 day simple moving average is $7.84. Tritium DCFC has a 1 year low of $5.43 and a 1 year high of $19.75.
Analyst Ratings Changes
Several research firms have recently weighed in on DCFC. Capital One Financial began coverage on shares of Tritium DCFC in a research note on Friday, May 13th. They issued an “overweight” rating and a $14.00 price target for the company. B. Riley began coverage on shares of Tritium DCFC in a research note on Friday, June 17th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Raymond James lowered their price objective on shares of Tritium DCFC from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, July 12th.
Hedge Funds Weigh In On Tritium DCFC
A number of hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. purchased a new position in shares of Tritium DCFC during the 1st quarter worth approximately $30,000. Penserra Capital Management LLC purchased a new position in Tritium DCFC in the 1st quarter valued at approximately $89,000. JPMorgan Chase & Co. boosted its position in Tritium DCFC by 57.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,679 shares of the company’s stock valued at $181,000 after buying an additional 10,841 shares during the period. Wolverine Asset Management LLC purchased a new position in Tritium DCFC in the 1st quarter valued at approximately $132,000. Finally, Clear Sky Advisers LLC purchased a new position in Tritium DCFC in the 1st quarter valued at approximately $211,000. Hedge funds and other institutional investors own 48.45% of the company’s stock.
About Tritium DCFC
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.