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

T1 Energy Inc (NYSE:TE) has received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $9.1250.

TE has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. BTIG Research boosted their target price on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein began coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Finally, Needham & Company LLC decreased their price target on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th.

Institutional Trading of T1 Energy

Several large investors have recently made changes to their positions in TE. Renaissance Technologies LLC increased its position in T1 Energy by 232.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after buying an additional 8,289,050 shares in the last quarter. Vanguard Group Inc. bought a new position in T1 Energy in the fourth quarter worth approximately $69,894,000. Situational Awareness LP acquired a new stake in T1 Energy in the first quarter valued at approximately $43,900,000. Kim LLC acquired a new stake in T1 Energy in the second quarter valued at approximately $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in T1 Energy in the fourth quarter valued at approximately $40,080,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

T1 Energy Stock Performance

TE stock opened at $4.52 on Friday. The stock has a 50-day moving average price of $5.77 and a 200-day moving average price of $6.56. T1 Energy has a 1-year low of $1.70 and a 1-year high of $12.49. The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50. The firm has a market cap of $1.33 billion, a PE ratio of -2.28 and a beta of 2.25.

T1 Energy (NYSE:TE) last announced its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%.The company had revenue of $250.13 million for the quarter. As a group, equities research analysts expect that T1 Energy will post -0.31 earnings per share for the current year.

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.