T1 Energy (NYSE:TE) Coverage Initiated at Northland Securities

Stock analysts at Northland Securities assumed coverage on shares of T1 Energy (NYSE:TE) in a research note issued to investors on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $16.00 price target on the utilities provider’s stock. Northland Securities’ price target would suggest a potential upside of 32.28% from the stock’s previous close.

TE has been the subject of a number of other reports. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. BTIG Research lifted their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.14.

T1 Energy Stock Up 16.2%

T1 Energy stock opened at $12.10 on Wednesday. T1 Energy has a 1-year low of $1.04 and a 1-year high of $12.25. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -5.96 and a beta of 2.14. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The firm has a 50 day simple moving average of $6.10 and a 200 day simple moving average of $6.35.

T1 Energy (NYSE:TE) last released its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. On average, analysts predict that T1 Energy will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the business’s 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 $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 available at the SEC website. 22.44% of the stock is owned by corporate insiders.

Institutional Trading of T1 Energy

Hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in T1 Energy in the fourth quarter worth $28,000. First PREMIER Bank bought a new stake in T1 Energy in the fourth quarter worth $30,000. Strs Ohio bought a new stake in T1 Energy in the fourth quarter worth $32,000. Russell Investments Group Ltd. bought a new stake in T1 Energy in the fourth quarter worth $63,000. Finally, Elevatus Welath Management bought a new position in shares of T1 Energy during the fourth quarter valued at about $67,000. 52.31% of the stock is owned by institutional investors.

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.