T1 Energy Inc (NYSE:TE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of T1 Energy Inc (NYSE:TE) have earned an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $9.1250.

A number of analysts have recently weighed in on the stock. 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 report on Tuesday, May 12th. Wall Street Zen downgraded shares of T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of T1 Energy in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Finally, Northland Securities assumed coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price for the company.

T1 Energy Stock Down 2.8%

TE stock opened at $8.27 on Friday. T1 Energy has a twelve month low of $1.15 and a twelve month high of $12.49. 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 company has a market capitalization of $2.31 billion, a P/E ratio of -4.07 and a beta of 2.14. The firm has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $7.08.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $177.65 million during the quarter. During the same period in the previous year, the business posted ($0.11) EPS. On average, equities research analysts predict that T1 Energy will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00. Following the sale, the insider directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On T1 Energy

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in shares of T1 Energy during the fourth quarter valued at $69,894,000. Situational Awareness LP acquired a new position in T1 Energy during the first quarter worth about $43,900,000. Renaissance Technologies LLC grew its holdings in T1 Energy by 232.2% during the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after acquiring an additional 8,289,050 shares during the period. Kim LLC acquired a new position in T1 Energy during the second quarter worth about $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new position in T1 Energy during the fourth quarter worth about $40,080,000. 52.31% of the stock is currently owned by 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.