T1 Energy (NYSE:TE) Trading Down 5% After Analyst Downgrade

T1 Energy Inc (NYSE:TE)’s share price traded down 5% during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $10.00 to $8.00. Needham & Company LLC currently has a buy rating on the stock. T1 Energy traded as low as $4.16 and last traded at $4.2550. 5,630,605 shares were traded during trading, a decline of 70% from the average session volume of 18,576,633 shares. The stock had previously closed at $4.48.

A number of other research firms also recently issued reports on TE. Alliance Global Partners reiterated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. iA Financial set a $8.50 price objective on shares of T1 Energy in a report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.83.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Creek Drive Management Group LLC acquired a new position in shares of T1 Energy during the fourth quarter valued at about $788,000. Hsbc Holdings PLC acquired a new stake in shares of T1 Energy in the 4th quarter worth about $109,000. Caitong International Asset Management Co. Ltd bought a new position in T1 Energy in the 4th quarter valued at about $2,007,000. Invesco Ltd. bought a new position in T1 Energy in the 4th quarter valued at about $17,405,000. Finally, Empowered Funds LLC acquired a new position in T1 Energy during the 4th quarter valued at about $3,830,000. 52.31% of the stock is owned by institutional investors.

T1 Energy Price Performance

The stock has a market capitalization of $899.39 million, a P/E ratio of -2.06 and a beta of 1.82. The business has a fifty day simple moving average of $7.16 and a 200 day simple moving average of $5.48. The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87.

T1 Energy (NYSE:TE) last posted its earnings results on Tuesday, March 31st. The utilities provider reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.90). The company had revenue of $358.55 million during the quarter. T1 Energy had a negative net margin of 133.07% and a negative return on equity of 121.17%. During the same quarter in the previous year, the company earned ($2.59) EPS.

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.