T1 Energy (NYSE:TE) Sees Large Volume Increase After Analyst Upgrade

T1 Energy Inc (NYSE:TE – Get Free Report) saw strong trading volume on Wednesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. 15,053,371 shares traded hands during trading, a decline of 23% from the previous session’s volume of 19,566,594 shares.The stock last traded at $8.3390 and had previously closed at $6.88.

Several other equities analysts have also issued reports on TE. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a report on Tuesday, May 12th. BTIG Research raised their price objective on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, T1 Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

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Hedge Funds Weigh In On T1 Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC purchased a new position in shares of T1 Energy during the fourth quarter worth about $2,637,000. Kim LLC acquired a new stake in shares of T1 Energy during the fourth quarter worth $8,684,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in T1 Energy in the 4th quarter valued at $1,298,000. Vanguard Group Inc. purchased a new position in T1 Energy in the 4th quarter valued at $69,894,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in T1 Energy in the 4th quarter valued at $662,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Trading Down 0.3%

The business’s 50-day moving average is $5.80 and its two-hundred day moving average is $6.06. 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 $2.42 billion, a PE ratio of -4.27 and a beta of 1.78.

T1 Energy (NYSE:TE – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share 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 firm had revenue of $177.65 million for the quarter. During the same quarter last year, the business earned ($0.11) earnings per share. As a group, equities research analysts anticipate that T1 Energy Inc will post -0.2 earnings per share for the current year.

T1 Energy Company Profile

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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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