T1 Energy (NYSE:TE) Issues Earnings Results

T1 Energy (NYSE:TEGet Free Report) released its earnings results on Tuesday. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13, RTT News reports. The firm had revenue of $177.65 million during the quarter. T1 Energy had a negative return on equity of 173.39% and a negative net margin of 48.11%.During the same quarter last year, the company posted ($0.11) EPS.

T1 Energy Stock Performance

NYSE:TE traded down $0.50 during mid-day trading on Tuesday, hitting $5.54. The stock had a trading volume of 24,965,187 shares, compared to its average volume of 18,330,322. T1 Energy has a twelve month low of $0.93 and a twelve month high of $9.78. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -2.68 and a beta of 1.78. The company’s 50 day simple moving average is $5.82 and its 200 day simple moving average is $5.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.43.

Analyst Ratings Changes

Several brokerages have recently weighed in on TE. Zacks Research cut T1 Energy from a “hold” rating to a “strong sell” rating in a report on Friday, April 3rd. Needham & Company LLC decreased their price objective on T1 Energy from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, T1 Energy has an average rating of “Moderate Buy” and a consensus price target of $7.83.

View Our Latest Stock Analysis on T1 Energy

Institutional Investors Weigh In On T1 Energy

Several hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in T1 Energy in the 4th quarter valued at about $109,000. Invesco Ltd. acquired a new stake in T1 Energy in the 4th quarter valued at about $17,405,000. Creek Drive Management Group LLC acquired a new stake in T1 Energy in the 4th quarter valued at about $788,000. Empowered Funds LLC acquired a new stake in T1 Energy in the 4th quarter valued at about $3,830,000. Finally, XTX Topco Ltd acquired a new stake in T1 Energy in the 4th quarter valued at about $411,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

T1 Energy Company Profile

(Get Free Report)

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.

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Earnings History for T1 Energy (NYSE:TE)

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