T1 Energy (NYSE:TE) Shares Down 7.3% – Here’s Why

Shares of T1 Energy Inc (NYSE:TE) dropped 7.3% during trading on Monday . The company traded as low as $5.48 and last traded at $5.4230. Approximately 7,753,413 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 28,235,445 shares. The stock had previously closed at $5.85.

Analysts Set New Price Targets

Several analysts have commented on TE shares. Weiss Ratings restated a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. Wall Street Zen cut T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Northland Securities started coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target for the company. BTIG Research raised their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Sanford C. Bernstein began coverage on T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

T1 Energy Price Performance

The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The company has a market capitalization of $1.53 billion, a P/E ratio of -2.70 and a beta of 2.23. The firm’s 50-day moving average is $7.34 and its 200-day moving average is $6.96.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.16) EPS for the quarter. The company had revenue of $250.13 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%. Analysts predict that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Insider Transactions at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the completion of the transaction, the insider owned 30,652,664 shares in the company, valued at $249,512,684.96. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 22.44% of the stock is currently owned by company insiders.

Institutional Trading of T1 Energy

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of T1 Energy during the first quarter valued at approximately $26,000. Envestnet Asset Management Inc. purchased a new position in T1 Energy during the 2nd quarter valued at $27,000. NBC Securities Inc. purchased a new position in T1 Energy during the 4th quarter valued at $28,000. Blackhawk Capital Partners LLC bought a new position in T1 Energy in the 1st quarter valued at $44,000. Finally, SteelPeak Wealth LLC bought a new position in T1 Energy in the 1st quarter valued at $46,000. 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.