T1 Energy Inc (NYSE:TE – Get Free Report)’s stock price traded up 7.8% on Tuesday. The company traded as high as $2.30 and last traded at $2.2850. 2,623,980 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 25,902,828 shares. The stock had previously closed at $2.12.
Wall Street Analysts Forecast Growth
TE has been the subject of several recent research reports. Weiss Ratings raised T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 16th. BTIG Research raised their price target on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Vertical Research assumed coverage on T1 Energy in a research report on Thursday, September 17th. They issued a “hold” rating and a $5.00 target price for the company. Needham & Company LLC dropped their price target on T1 Energy from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, Northland Securities set a $9.00 price objective on shares of T1 Energy in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.
Check Out Our Latest Report on T1 Energy
T1 Energy Price Performance
The stock has a market capitalization of $773.13 million, a price-to-earnings ratio of -1.33 and a beta of 2.36. The stock has a fifty day moving average of $3.81 and a 200-day moving average of $6.14. The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 3.50.
T1 Energy (NYSE:TE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The firm had revenue of $250.13 million during the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. On average, equities research analysts predict that T1 Energy Inc will post -0.32 EPS for the current fiscal year.
Institutional Investors Weigh In On T1 Energy
Several institutional investors have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC purchased a new stake in T1 Energy in the 3rd quarter valued at $69,000. Sterling Capital Management LLC lifted its position in T1 Energy by 993.0% during the 3rd 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 in the last quarter. Inspire Investing LLC grew its stake in T1 Energy by 127.9% in the third quarter. Inspire Investing LLC now owns 165,763 shares of the utilities provider’s stock worth $640,000 after purchasing an additional 93,038 shares in the last quarter. Insight Advisors LLC PA boosted its stake in shares of T1 Energy by 23.0% during the 3rd quarter. Insight Advisors LLC PA now owns 73,550 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 13,750 shares in the last quarter. Finally, SLT Holdings LLC acquired a new stake in T1 Energy in the third quarter valued at approximately $237,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.
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.
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