T1 Energy Inc (NYSE:TE) Receives $8.00 Consensus Price Target from Analysts

Shares of T1 Energy Inc (NYSE:TE) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.00.

TE has been the subject of several recent research reports. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, BTIG Research lifted their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th.

T1 Energy Stock Up 16.2%

Shares of NYSE TE opened at $12.10 on Wednesday. T1 Energy has a 12-month low of $1.04 and a 12-month high of $12.25. The stock has a market cap of $3.38 billion, a PE ratio of -5.96 and a beta of 2.14. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The company has a 50-day moving average of $6.10 and a 200 day moving average of $6.35.

T1 Energy (NYSE:TE) last released its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period last year, the business earned ($0.11) earnings per share. As a group, sell-side analysts predict that T1 Energy will post -0.29 EPS for the current fiscal year.

Insider Transactions at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the transaction, the insider directly owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.44% of the company’s stock.

Institutional Trading of T1 Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in T1 Energy in the first quarter valued at approximately $26,000. Envestnet Asset Management Inc. acquired a new stake in T1 Energy during the second quarter worth $27,000. NBC Securities Inc. purchased a new stake in T1 Energy in the fourth quarter valued at $28,000. First PREMIER Bank purchased a new stake in T1 Energy in the fourth quarter valued at $30,000. Finally, Blackhawk Capital Partners LLC acquired a new position in shares of T1 Energy in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

T1 Energy Company Profile

T1 Energy Inc is an energy solutions provider building an integrated supply chain for solar and batteries. T1 Energy Inc , formerly known as FREYR Battery, is based in NEW YORK.