T1 Energy (NYSE:TE) Stock Price Down 5.4% – Here’s Why

T1 Energy Inc (NYSE:TE)’s stock price fell 5.4% during trading on Tuesday . The company traded as low as $8.32 and last traded at $8.4420. 4,653,202 shares changed hands during trading, a decline of 81% from the average session volume of 24,262,920 shares. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

A number of research firms recently commented on TE. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. BTIG Research boosted their price objective 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 assumed coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective on the stock. Wall Street Zen upgraded shares of T1 Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.14.

T1 Energy Stock Performance

The company’s 50-day moving average price is $6.87 and its 200 day moving average price is $6.80. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market capitalization of $2.37 billion, a PE ratio of -4.14 and a beta of 2.13.

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

Insider Activity at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider directly owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On T1 Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in shares of T1 Energy in the 4th quarter worth about $69,894,000. Situational Awareness LP purchased a new position in T1 Energy during the 1st quarter valued at about $43,900,000. Renaissance Technologies LLC lifted its position in T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares during the period. Kim LLC purchased a new position in T1 Energy during the 2nd quarter valued at about $8,816,000. Finally, Southpoint Capital Advisors LP purchased a new position in T1 Energy during the 4th quarter valued at about $40,080,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

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.