T1 Energy Inc (NYSE:TE – Get Free Report) shares gapped up before the market opened on Wednesday. The stock had previously closed at $2.83, but opened at $3.25. T1 Energy shares last traded at $3.2040, with a volume of 13,110,243 shares changing hands.
Analyst Ratings Changes
TE has been the topic of a number of research reports. Weiss Ratings upgraded T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. BTIG Research upped their target price on T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Needham & Company LLC dropped their price objective on shares of T1 Energy from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Northland Securities set a $9.00 price target on shares of T1 Energy in a research report on Monday, October 5th. Finally, Wall Street Zen cut shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, T1 Energy has an average rating of “Moderate Buy” and an average target price of $7.50.
View Our Latest Research Report on T1 Energy
T1 Energy Stock Performance
The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.90. The company has a 50 day moving average of $3.68 and a two-hundred day moving average of $6.05. The company has a market capitalization of $885.06 million, a PE ratio of -1.51 and a beta of 2.48.
T1 Energy (NYSE:TE – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. The company had revenue of $250.13 million during the quarter. As a group, equities research analysts predict that T1 Energy Inc will post -0.32 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in TE. Sei Investments Co. boosted its holdings in shares of T1 Energy by 4.6% during 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. Sterling Capital Management LLC lifted its position in T1 Energy by 993.0% during the third quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 6,256 shares in the last quarter. Insight Advisors LLC PA grew its stake in shares of T1 Energy by 21.3% during the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 6,500 shares during the period. Cetera Investment Advisers increased its stake in shares of T1 Energy by 3.7% in the first quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock worth $800,000 after purchasing an additional 6,537 shares in the last quarter. Finally, Lake Hills Wealth Management LLC increased its stake in T1 Energy by 34.5% in the 3rd quarter. Lake Hills Wealth Management LLC now owns 30,429 shares of the utilities provider’s stock worth $117,000 after buying an additional 7,813 shares in the last quarter. 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.
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