T1 Energy (NYSE:TE) Trading Up 16.5% – What’s Next?

T1 Energy Inc (NYSE:TEGet Free Report)’s stock price rose 16.5% during mid-day trading on Tuesday . The company traded as high as $9.50 and last traded at $9.41. Approximately 14,071,017 shares were traded during trading, a decline of 35% from the average daily volume of 21,552,600 shares. The stock had previously closed at $8.08.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BTIG Research lifted their price objective on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, T1 Energy currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Check Out Our Latest Stock Report on TE

T1 Energy Stock Performance

The stock’s 50-day moving average price is $5.80 and its 200 day moving average price is $6.12. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The company has a market cap of $2.96 billion, a P/E ratio of -5.22 and a beta of 1.78.

T1 Energy (NYSE:TEGet Free Report) last released its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The firm had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period in the prior year, the firm earned ($0.11) EPS. As a group, research analysts expect that T1 Energy Inc will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in T1 Energy by 232.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after buying an additional 8,289,050 shares in the last quarter. Vanguard Group Inc. acquired a new position in T1 Energy during the fourth quarter worth $69,894,000. Situational Awareness LP bought a new position in shares of T1 Energy during the first quarter valued at $43,900,000. Kim LLC bought a new position in shares of T1 Energy during the second quarter valued at $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of T1 Energy in the 4th quarter valued at $40,080,000. 52.31% of the stock is currently owned by institutional investors.

About T1 Energy

(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.

Further Reading

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