T1 Energy Inc (NYSE:TE – Get Free Report)’s share price fell 9.2% during trading on Thursday . The company traded as low as $8.37 and last traded at $8.3390. Approximately 14,568,322 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 25,256,480 shares. The stock had previously closed at $9.18.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. BTIG Research boosted their price target on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein started coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Finally, Northland Securities started coverage on T1 Energy in a report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, T1 Energy has an average rating of “Moderate Buy” and a consensus target price of $9.12.
Check Out Our Latest Stock Report on T1 Energy
T1 Energy Stock Performance
T1 Energy (NYSE:TE – Get Free Report) last released its quarterly earnings data 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 company had revenue of $177.65 million during the quarter. During the same quarter in the prior year, the firm earned ($0.11) EPS. As a group, equities research analysts expect that T1 Energy Inc will post -0.2 EPS for the current fiscal year.
Insider Buying and Selling
In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider directly owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.44% of the company’s stock.
Institutional Investors Weigh In On T1 Energy
Several institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in T1 Energy during the 1st quarter valued at $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy in the 2nd quarter worth $27,000. Geode Capital Management LLC bought a new stake in shares of T1 Energy in the 2nd quarter worth $3,296,000. Cetera Investment Advisers purchased a new stake in shares of T1 Energy in the second quarter valued at about $162,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of T1 Energy in the second quarter valued at about $71,000. Institutional investors own 52.31% of the company’s stock.
About T1 Energy
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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