T1 Energy (NYSE:TE) Shares Gap Down – Here’s Why

T1 Energy Inc (NYSE:TE)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $7.00, but opened at $6.61. T1 Energy shares last traded at $6.2630, with a volume of 17,302,461 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TE shares. Zacks Research downgraded shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. BTIG Research raised their price target 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 reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

T1 Energy Stock Performance

The stock has a market cap of $1.80 billion, a PE ratio of -3.17 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The stock has a 50-day moving average of $5.75 and a 200 day moving average of $5.96.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS 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 firm had revenue of $177.65 million for the quarter. During the same period in the previous year, the firm posted ($0.11) EPS. Equities analysts predict that T1 Energy Inc will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC purchased a new stake in T1 Energy during the 4th quarter worth approximately $2,637,000. Kim LLC purchased a new stake in T1 Energy during the 4th quarter worth about $8,684,000. Vanguard Group Inc. purchased a new stake in shares of T1 Energy in the 4th quarter valued at approximately $69,894,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of T1 Energy in the 4th quarter valued at approximately $1,298,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of T1 Energy in the 4th quarter valued at approximately $662,000. Hedge funds and other 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.