T1 Energy (NYSE:TE) Announces Earnings Results

T1 Energy (NYSE:TEGet Free Report) announced its quarterly earnings results on Wednesday. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03), FiscalAI reports. The business had revenue of $250.13 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%.

T1 Energy Trading Down 6.9%

Shares of TE traded down $0.38 during midday trading on Wednesday, hitting $5.09. The stock had a trading volume of 29,809,402 shares, compared to its average volume of 28,374,859. The business has a 50-day simple moving average of $7.34 and a two-hundred day simple moving average of $6.96. The firm has a market cap of $1.42 billion, a P/E ratio of -2.51 and a beta of 2.23. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. T1 Energy has a fifty-two week low of $1.20 and a fifty-two week high of $12.49.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. BTIG Research upped their price target on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Sanford C. Bernstein initiated coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective for the company. Finally, Northland Securities began coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.12.

Read Our Latest Report on T1 Energy

Insider Buying and Selling

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. The trade was 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 the SEC website. Corporate insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in TE. NBC Securities Inc. bought a new stake in T1 Energy in the fourth quarter worth $28,000. Strs Ohio acquired a new position in T1 Energy during the 4th quarter worth $32,000. Russell Investments Group Ltd. bought a new stake in T1 Energy during the fourth quarter valued at about $63,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of T1 Energy in the fourth quarter worth about $67,000. Finally, Blackhawk Capital Partners LLC acquired a new position in shares of T1 Energy during the first quarter worth approximately $44,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

Earnings History for T1 Energy (NYSE:TE)

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