T1 Energy (NYSE:TE) Trading Down 9.2% – Should You Sell?

Shares of T1 Energy Inc (NYSE:TE) traded down 9.2% on Thursday . The stock traded as low as $8.37 and last traded at $8.3390. Approximately 14,568,322 shares traded hands during trading, a decline of 42% from the average session volume of 25,256,480 shares. The stock had previously closed at $9.18.

Analyst Ratings Changes

TE has been the topic of a number of research analyst reports. Wall Street Zen cut shares of T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. BTIG Research increased their target price on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Northland Securities began coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, T1 Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.12.

T1 Energy Stock Down 10.2%

The stock has a market cap of $2.30 billion, a PE ratio of -4.09 and a beta of 2.16. The business has a 50 day moving average of $7.94 and a 200-day moving average of $7.15. 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 issued its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. The company had revenue of $177.65 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter in the prior year, the firm posted ($0.11) EPS. Equities research analysts predict that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Insider Activity at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00. Following the completion of the sale, the insider owned 40,152,664 shares in the company, valued at $348,926,650.16. This represents a 24.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.44% of the stock is owned by insiders.

Institutional Trading of T1 Energy

A number of large investors have recently bought and sold shares of TE. Strs Ohio purchased a new position in T1 Energy during the 1st quarter worth $26,000. Envestnet Asset Management Inc. purchased a new stake in shares of T1 Energy in the second quarter valued at about $27,000. NBC Securities Inc. acquired a new stake in shares of T1 Energy during the fourth quarter worth about $28,000. First PREMIER Bank acquired a new stake in shares of T1 Energy during the fourth quarter worth about $30,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in shares of T1 Energy during the first quarter worth about $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.