T1 Energy (NYSE:TE) Stock Price Down 12.8% – Should You Sell?

T1 Energy Inc (NYSE:TE) shares were down 12.8% during mid-day trading on Friday . The company traded as low as $9.97 and last traded at $10.1620. Approximately 6,704,704 shares were traded during trading, a decline of 71% from the average daily volume of 23,403,350 shares. The stock had previously closed at $11.66.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. BTIG Research raised their price objective 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. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Northland Securities initiated coverage on T1 Energy in a research note on Wednesday. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, T1 Energy has an average rating of “Moderate Buy” and a consensus target price of $9.14.

T1 Energy Stock Down 18.7%

The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -4.70 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’s 50 day moving average is $6.41 and its two-hundred day moving average is $6.52.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.13. The company had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period in the prior year, the business earned ($0.11) earnings per share. On average, sell-side analysts predict that T1 Energy Inc will post -0.29 EPS for the current year.

Insider Activity

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the sale, the insider owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TE. Strs Ohio purchased a new position in shares of T1 Energy during the 1st quarter worth $26,000. Envestnet Asset Management Inc. acquired a new stake in T1 Energy in the 2nd quarter worth about $27,000. Geode Capital Management LLC acquired a new stake in T1 Energy in the 2nd quarter worth about $3,296,000. Cetera Investment Advisers purchased a new stake in T1 Energy in the 2nd quarter valued at about $162,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of T1 Energy during the 2nd quarter worth about $71,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

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.