Brokerages Set T1 Energy Inc (NYSE:TE) PT at $9.00

T1 Energy Inc (NYSE:TE) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.1250.

Several analysts recently weighed in on TE shares. Northland Securities assumed coverage on T1 Energy in a report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. Wall Street Zen cut shares of T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Needham & Company LLC reduced their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Finally, BTIG Research raised their target price on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th.

Insider Buying and Selling

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 40,152,664 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Insiders own 22.44% of the company’s stock.

Institutional Trading of T1 Energy

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of T1 Energy during the second quarter valued at approximately $7,768,000. FNY Investment Advisers LLC raised its holdings in shares of T1 Energy by 101.9% in the second quarter. FNY Investment Advisers LLC now owns 20,894 shares of the utilities provider’s stock worth $198,000 after buying an additional 10,544 shares during the period. NewEdge Advisors LLC raised its holdings in shares of T1 Energy by 8,445.7% in the first quarter. NewEdge Advisors LLC now owns 86,141 shares of the utilities provider’s stock worth $378,000 after buying an additional 85,133 shares during the period. Bank of America Corp DE lifted its stake in shares of T1 Energy by 435.9% during the 1st quarter. Bank of America Corp DE now owns 752,961 shares of the utilities provider’s stock worth $3,305,000 after acquiring an additional 612,452 shares during the last quarter. Finally, Amundi lifted its stake in shares of T1 Energy by 17.0% during the 1st quarter. Amundi now owns 169,881 shares of the utilities provider’s stock worth $746,000 after acquiring an additional 24,634 shares during the last quarter. Institutional investors own 52.31% of the company’s stock.

T1 Energy Trading Down 0.2%

Shares of NYSE TE opened at $5.10 on Monday. The business’s 50 day moving average is $6.98 and its two-hundred day moving average is $6.89. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.90. T1 Energy has a 1-year low of $1.29 and a 1-year high of $12.49. The stock has a market capitalization of $1.42 billion, a P/E ratio of -2.58 and a beta of 2.24.

T1 Energy (NYSE:TE) last issued its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $250.13 million for the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. As a group, research analysts expect that T1 Energy will post -0.23 EPS for the current year.

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.