T1 Energy (NYSE:TE) Hits New 12-Month High – What’s Next?

T1 Energy Inc (NYSE:TE) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.78 and last traded at $9.49, with a volume of 20182056 shares. The stock had previously closed at $9.12.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TE shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research report on Monday, December 29th. Wall Street Zen downgraded T1 Energy from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Industrial Alliance Securities set a $8.50 target price on T1 Energy in a research report on Tuesday, December 9th. Needham & Company LLC reissued a “buy” rating on shares of T1 Energy in a research report on Thursday, December 11th. Finally, Johnson Rice upgraded T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87. The firm has a market cap of $2.02 billion, a PE ratio of -2.51 and a beta of 1.56. The stock’s 50 day moving average price is $6.29 and its 200 day moving average price is $3.75.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Friday, November 14th. The utilities provider reported ($0.85) earnings per share (EPS) for the quarter. T1 Energy had a negative net margin of 133.07% and a negative return on equity of 121.17%. The company had revenue of $210.52 million during the quarter.

Institutional Investors Weigh In On T1 Energy

Hedge funds have recently modified their holdings of the stock. Encompass Capital Advisors LLC acquired a new position in T1 Energy during the 2nd quarter worth approximately $16,560,000. Kim LLC purchased a new stake in shares of T1 Energy during the second quarter valued at approximately $8,816,000. Invesco Ltd. acquired a new position in shares of T1 Energy during the second quarter worth $3,862,000. Geode Capital Management LLC acquired a new position in shares of T1 Energy during the second quarter worth $3,296,000. Finally, Franklin Resources Inc. purchased a new position in shares of T1 Energy in the second quarter valued at $1,180,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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.