Brokerages Set T1 Energy Inc (NYSE:TE) Target Price at $7.83

T1 Energy Inc (NYSE:TE) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.8333.

Several brokerages recently weighed in on TE. Needham & Company LLC lowered their price objective on T1 Energy from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Finally, Zacks Research lowered T1 Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, April 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TE. Strs Ohio purchased a new position in shares of T1 Energy during the first quarter worth $26,000. Envestnet Asset Management Inc. purchased a new position in shares of T1 Energy during the second quarter worth $27,000. Geode Capital Management LLC purchased a new position in shares of T1 Energy during the second quarter worth $3,296,000. Cetera Investment Advisers purchased a new position in shares of T1 Energy during the second quarter worth $162,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of T1 Energy during the second quarter worth $71,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

T1 Energy Trading Down 1.3%

Shares of T1 Energy stock opened at $5.27 on Friday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -2.56 and a beta of 1.78. T1 Energy has a fifty-two week low of $0.93 and a fifty-two week high of $9.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.43. The stock has a 50 day moving average of $5.90 and a 200 day moving average of $5.87.

T1 Energy (NYSE:TE) last issued its quarterly earnings data on Tuesday, March 31st. The utilities provider reported ($0.87) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.90). The business had revenue of $358.55 million during the quarter. T1 Energy had a negative return on equity of 173.39% and a negative net margin of 48.11%.During the same period last year, the firm earned ($2.59) EPS. As a group, research analysts predict that T1 Energy will post -0.47 earnings per share for the current year.

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.