T1 Energy (NYSE:TE) Trading 9.7% Higher – What’s Next?

Shares of T1 Energy Inc (NYSE:TE) were up 9.7% during mid-day trading on Tuesday . The stock traded as high as $9.65 and last traded at $9.74. Approximately 18,025,957 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 25,220,070 shares. The stock had previously closed at $8.88.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. Northland Securities started coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective on the stock. BTIG Research lifted their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen downgraded T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Stock Performance

The firm has a market capitalization of $2.62 billion, a PE ratio of -4.64 and a beta of 2.13. The firm’s fifty day moving average price is $7.76 and its 200 day moving average price is $7.11. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05.

T1 Energy (NYSE:TE) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The firm had revenue of $177.65 million during the quarter. During the same period in the previous year, the company earned ($0.11) EPS. On average, research analysts anticipate that T1 Energy Inc will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00. Following the transaction, the insider owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TE. Strs Ohio acquired a new position in T1 Energy in the 1st quarter worth $26,000. Envestnet Asset Management Inc. bought a new position in T1 Energy in the 2nd quarter valued at about $27,000. Geode Capital Management LLC acquired a new stake in shares of T1 Energy during the second quarter worth $3,296,000. Cetera Investment Advisers acquired a new stake in T1 Energy during the second quarter worth approximately $162,000. Finally, JPMorgan Chase & Co. bought a new position in T1 Energy in the 2nd quarter valued at about $71,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

About T1 Energy

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.