T1 Energy (NYSE:TE) Shares Gap Down – Should You Sell?

T1 Energy Inc (NYSE:TEGet Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $7.00, but opened at $6.61. T1 Energy shares last traded at $6.2630, with a volume of 17,302,461 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research note on Tuesday, May 12th. BTIG Research upped their price target on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Zacks Research downgraded shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

View Our Latest Stock Analysis on T1 Energy

T1 Energy Price Performance

The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The stock’s fifty day simple moving average is $5.78 and its 200-day simple moving average is $6.02. The company has a market capitalization of $2.42 billion, a P/E ratio of -4.26 and a beta of 1.78.

T1 Energy (NYSE:TEGet Free Report) last released its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.13. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The business had revenue of $177.65 million during the quarter. During the same quarter in the previous year, the business posted ($0.11) EPS. On average, equities analysts forecast that T1 Energy Inc will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. NBC Securities Inc. bought a new position in shares of T1 Energy during the 4th quarter worth about $28,000. First PREMIER Bank bought a new stake in T1 Energy in the fourth quarter valued at about $30,000. Strs Ohio acquired a new position in T1 Energy in the fourth quarter worth about $32,000. Russell Investments Group Ltd. acquired a new position in T1 Energy in the fourth quarter worth about $63,000. Finally, Elevatus Welath Management bought a new position in T1 Energy during the fourth quarter worth about $67,000. Institutional investors own 52.31% of the company’s stock.

About T1 Energy

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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.

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