T1 Energy (NYSE:TE) Trading 13.8% Higher – Here’s Why

T1 Energy Inc (NYSE:TEGet Free Report) rose 13.8% on Thursday . The stock traded as high as $6.19 and last traded at $6.2270. 9,903,112 shares changed hands during trading, a decline of 64% from the average session volume of 27,814,992 shares. The stock had previously closed at $5.47.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TE. Wall Street Zen downgraded T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Needham & Company LLC lowered their price objective on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Sanford C. Bernstein started coverage on shares of T1 Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 target price for the company. BTIG Research lifted their target price on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, T1 Energy presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Read Our Latest Report on TE

T1 Energy Trading Up 10.7%

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 firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.99 and a beta of 2.23. The business has a fifty day moving average price of $7.77 and a 200 day moving average price of $7.03.

T1 Energy (NYSE:TEGet Free Report) last issued its earnings results 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 return on equity of 150.51% and a negative net margin of 42.30%.The firm had revenue of $177.65 million for the quarter. During the same quarter in the previous year, the business posted ($0.11) EPS. As a group, equities analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current year.

Insider Transactions at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 22.44% of the company’s stock.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of T1 Energy by 4.6% in the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after acquiring an additional 1,911 shares during the last quarter. NBC Securities Inc. bought a new position in T1 Energy in the 4th quarter worth approximately $28,000. First PREMIER Bank bought a new stake in T1 Energy during the 4th quarter valued at $30,000. Strs Ohio bought a new position in shares of T1 Energy in the fourth quarter worth $32,000. Finally, Insight Advisors LLC PA increased its holdings in shares of T1 Energy by 21.3% during the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after purchasing an additional 6,500 shares during the period. Institutional investors and hedge funds own 52.31% of the company’s stock.

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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