T1 Energy (NYSE:TE – Get Free Report) had its target price dropped by Needham & Company LLC from $7.00 to $6.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Needham & Company LLC‘s target price suggests a potential upside of 160.30% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. Weiss Ratings upgraded T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. Northland Securities set a $9.00 target price on shares of T1 Energy in a research report on Monday, October 5th. BTIG Research boosted their price target on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of T1 Energy in a report on Monday, September 14th. They set a “neutral” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.50.
View Our Latest Analysis on T1 Energy
T1 Energy Stock Performance
Shares of NYSE:TE opened at $2.31 on Friday. T1 Energy has a 1 year low of $2.25 and a 1 year high of $12.49. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The stock’s 50-day moving average is $4.01 and its 200 day moving average is $5.86.
T1 Energy (NYSE:TE – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. The business had revenue of $250.13 million during the quarter. On average, analysts anticipate that T1 Energy will post -0.34 EPS for the current fiscal year.
Hedge Funds Weigh In On T1 Energy
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in shares of T1 Energy by 993.0% in the third quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 6,256 shares during the period. Blackhawk Capital Partners LLC bought a new position in T1 Energy during the first quarter valued at approximately $44,000. SteelPeak Wealth LLC bought a new position in T1 Energy during the first quarter valued at approximately $46,000. B. Riley Wealth Advisors Inc. bought a new position in T1 Energy during the third quarter valued at approximately $46,000. Finally, Waverly Advisors LLC purchased a new stake in T1 Energy in the first quarter worth approximately $54,000. Institutional investors own 52.31% of the company’s stock.
T1 Energy Company Profile
T1 Energy Inc is a U.S.-focused solar technology and manufacturing company working to develop a domestic solar supply chain. The company’s activities include the production and commercialization of solar photovoltaic modules, as well as the development of solar cell and related manufacturing capabilities.
T1 Energy operates through its G1 manufacturing facility in Texas and is developing additional solar manufacturing and energy infrastructure projects. Its products and services are intended to support utility-scale, commercial and residential solar installations in the United States.
The company was formerly known as FREYR Battery, a business established to develop lithium-ion battery manufacturing capacity.
Featured Stories
- Five stocks we like better than T1 Energy
- Microsoft’s Earnings Problem: Even Great May Not Be Enough
- 3 Stocks With Yields Big Enough to Make Election Volatility Easier to Stomach
- Is Texas Instruments Setting Up for Its Next Big Breakout?
- Pegasystems’ Q3 Miss Exposed the Problem Standing Between AI and Cash Flow
Receive News & Ratings for T1 Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T1 Energy and related companies with MarketBeat.com's FREE daily email newsletter.
