T1 Energy (NYSE:TE) Sees Unusually-High Trading Volume – Here’s Why

T1 Energy Inc (NYSE:TE) saw unusually-high trading volume on Thursday . 19,809,373 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 27,032,057 shares.The stock last traded at $4.2730 and had previously closed at $3.72.

Analysts Set New Price Targets

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

T1 Energy Stock Up 11.9%

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 company has a market capitalization of $1.16 billion, a PE ratio of -2.06 and a beta of 2.16. The firm’s 50-day simple moving average is $8.20 and its 200 day simple moving average is $7.12.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $177.65 million during the quarter. During the same quarter in the prior year, the business earned ($0.11) EPS. As a group, equities research analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On T1 Energy

Institutional investors have recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of T1 Energy in the 4th quarter worth approximately $28,000. First PREMIER Bank purchased a new position in T1 Energy in the 4th quarter valued at approximately $30,000. Strs Ohio purchased a new position in T1 Energy in the 4th quarter valued at approximately $32,000. Russell Investments Group Ltd. acquired a new position in T1 Energy during the fourth quarter worth $63,000. Finally, Bryn Mawr Trust Advisors LLC acquired a new position in T1 Energy during the fourth quarter worth $67,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

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.