Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of T1 Energy (NYSE:TE – Get Free Report) in a report issued on Monday, Benzinga reports. The firm set a “neutral” rating and a $5.00 price target on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 8.34% from the company’s previous close.
TE has been the topic of a number of other research reports. Wall Street Zen cut T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. 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, August 12th. Needham & Company LLC decreased their price target on T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Northland Securities initiated coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.67.
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T1 Energy Price Performance
T1 Energy (NYSE:TE – Get Free Report) last posted its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The firm had revenue of $250.13 million for the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. Equities analysts forecast that T1 Energy will post -0.31 EPS for the current year.
Hedge Funds Weigh In On T1 Energy
A number of institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. grew its holdings in shares of T1 Energy by 4.6% during the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,911 shares in the last quarter. Insight Advisors LLC PA lifted its position in 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 last quarter. Cetera Investment Advisers grew its stake in T1 Energy by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock worth $800,000 after buying an additional 6,537 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in T1 Energy in the 4th quarter worth approximately $63,000. Finally, Blackhawk Capital Partners LLC bought a new position in shares of T1 Energy in the 1st quarter worth $44,000. 52.31% of the stock is currently owned by institutional investors.
T1 Energy Company Profile
T1 Energy Inc (NYSE: TE) is a U.S.-focused solar energy company developing domestic manufacturing and supply-chain capabilities for the photovoltaic industry. Its business centers on producing solar modules and supporting the deployment of utility-scale and other solar power projects.
The company’s operations are anchored by a solar module manufacturing facility in Texas, which it acquired as part of its transition into the solar industry. T1 Energy is focused on expanding U.S.-based production and serving the North American market as demand grows for domestically manufactured solar equipment.
T1 Energy was formerly known as FREYR Battery, a company established to develop battery-cell manufacturing operations.
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