T1 Energy (NYSE:TE) Announces Quarterly Earnings Results

T1 Energy (NYSE:TE) posted its quarterly earnings data on Tuesday. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.13, RTT News reports. T1 Energy had a negative return on equity of 173.39% and a negative net margin of 48.11%.The firm had revenue of $177.65 million for the quarter. During the same period in the prior year, the company posted ($0.11) EPS.

T1 Energy Trading Down 8.3%

Shares of TE stock traded down $0.50 during trading hours on Tuesday, reaching $5.54. The company had a trading volume of 24,965,187 shares, compared to its average volume of 18,330,322. The company has a 50 day moving average of $5.82 and a 200 day moving average of $5.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.43 and a quick ratio of 1.18. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -2.68 and a beta of 1.78. T1 Energy has a 1-year low of $0.93 and a 1-year high of $9.78.

Institutional Trading of T1 Energy

Large investors have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of T1 Energy in the 4th quarter valued at $197,000. Hsbc Holdings PLC bought a new position in T1 Energy during the 4th quarter worth about $109,000. Stifel Financial Corp bought a new position in T1 Energy during the 4th quarter worth about $97,000. Resurgent Financial Advisors LLC bought a new position in T1 Energy during the 4th quarter worth about $97,000. Finally, Royal Bank of Canada bought a new position in T1 Energy during the 4th quarter worth about $96,000. Institutional investors own 52.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TE shares. Needham & Company LLC reduced their price objective on T1 Energy from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, Zacks Research downgraded T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.83.

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.