T1 Energy (NYSE:TE) Stock Price Up 7.8% – Time to Buy?

T1 Energy Inc (NYSE:TE) shares rose 7.8% on Tuesday . The company traded as high as $6.65 and last traded at $6.60. Approximately 14,878,882 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 23,131,260 shares. The stock had previously closed at $6.12.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Johnson Rice upgraded T1 Energy to a “strong-buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research note on Monday, December 29th. iA Financial set a $8.50 price objective on T1 Energy in a research note on Tuesday, December 9th. BTIG Research increased their price objective on T1 Energy from $3.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen cut shares of T1 Energy from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Price Performance

The company has a market cap of $1.37 billion, a price-to-earnings ratio of -1.71 and a beta of 1.60. The company’s 50 day moving average price is $7.25 and its 200 day moving average price is $4.37. The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Friday, November 14th. The utilities provider reported ($0.85) earnings per share (EPS) for the quarter. The firm had revenue of $210.52 million for the quarter. T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.

Hedge Funds Weigh In On T1 Energy

A number of large investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new stake in shares of T1 Energy in the 4th quarter valued at approximately $28,000. First PREMIER Bank acquired a new position in T1 Energy during the fourth quarter worth $30,000. Strs Ohio purchased a new position in T1 Energy in the fourth quarter worth $32,000. Russell Investments Group Ltd. acquired a new stake in T1 Energy in the fourth quarter valued at $63,000. Finally, Elevatus Welath Management purchased a new stake in shares of T1 Energy during the 4th quarter worth $67,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

T1 Energy Company Profile

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.