T1 Energy (NYSE:TE) Stock Gets Price Target Cut from BTIG Research

T1 Energy (NYSE:TE) had its target price decreased by BTIG Research from $9.00 to $7.00 in a research note released on Thursday morning, Marketbeat.com reports. BTIG Research currently has a buy rating on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings raised T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 16th. JPMorgan Chase & Co. started coverage on shares of T1 Energy in a research report on Monday, September 14th. They set a “neutral” rating and a $5.00 price objective for the company. Northland Securities set a $9.00 price objective on shares of T1 Energy in a report on Monday, October 5th. Needham & Company LLC dropped their price objective on shares of T1 Energy from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Finally, Wall Street Zen lowered shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, T1 Energy presently has a consensus rating of “Moderate Buy” and an average price target of $7.30.

T1 Energy Stock Down 2.8%

Shares of T1 Energy stock traded down $0.06 on Thursday, reaching $1.92. 43,048,919 shares of the company were exchanged, compared to its average volume of 22,505,070. T1 Energy has a one year low of $1.60 and a one year high of $12.49. The company has a market capitalization of $564.02 million, a price-to-earnings ratio of -1.53 and a beta of 2.48. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 2.64. The company has a 50-day moving average of $3.30 and a 200 day moving average of $5.81.

T1 Energy (NYSE:TE) last released its quarterly earnings data on Thursday, November 12th. The utilities provider reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). T1 Energy had a negative net margin of 29.88% and a negative return on equity of 86.00%. The company had revenue of $196.59 million during the quarter. On average, equities research analysts forecast that T1 Energy will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. raised its holdings in T1 Energy by 4.6% in the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after acquiring an additional 1,911 shares in the last quarter. Sterling Capital Management LLC raised its stake in T1 Energy by 993.0% in the third quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 6,256 shares in the last quarter. Insight Advisors LLC PA raised its stake in T1 Energy by 21.3% in the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after purchasing an additional 6,500 shares in the last quarter. Cetera Investment Advisers raised its stake in T1 Energy by 3.7% in the first quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock valued at $800,000 after purchasing an additional 6,537 shares in the last quarter. Finally, Lake Hills Wealth Management LLC lifted its position in T1 Energy by 34.5% during the third quarter. Lake Hills Wealth Management LLC now owns 30,429 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 7,813 shares during the period. Institutional investors and hedge funds own 52.31% of the company’s stock.

T1 Energy News Roundup

Investors following TE have been watching these news items:

• Positive Sentiment: Management highlighted stronger solar demand, improving module pricing and new offtake agreements as support for its U.S. manufacturing plans. Article: T1 Energy Q3 Earnings Call Focuses on G2 Funding and Solar Demand
• Negative Sentiment: T1 Energy said the SEC is examining its disclosures related to federal tax credits. The news prompted a sharp selloff and an investor-law-firm investigation into whether the company misled investors, adding regulatory and potential legal uncertainty. Article: T1 Energy says SEC probing disclosures of federal tax credits
• Negative Sentiment: For Q3, the company reported a loss of $0.14 per share, wider than the cited consensus estimate of $0.12, and revenue of $196.59 million. The earnings miss added pressure, despite the loss being narrower than a year earlier. Article: T1 Energy reports Q3 earnings results

T1 Energy Company Profile

T1 Energy, formerly known as FREYR Battery, is a U.S.-focused solar manufacturing company. After initially pursuing battery production, the company shifted its strategy toward building a domestic solar supply chain. The company is developing solar manufacturing operations in Texas, including facilities intended to produce solar cells and modules. Its products are designed to serve the solar energy market, supporting the deployment of photovoltaic systems. T1 Energy’s strategy centers on expanding U.S.-based solar manufacturing and serving customers seeking domestically produced solar products.