Needham & Company LLC Cuts T1 Energy (NYSE:TE) Price Target to $8.00

T1 Energy (NYSE:TE) had its price target reduced by Needham & Company LLC from $10.00 to $8.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

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

T1 Energy Stock Performance

NYSE:TE opened at $4.18 on Thursday. The company has a market capitalization of $886.64 million, a PE ratio of -2.03 and a beta of 1.82. The company has a 50 day simple moving average of $6.99 and a two-hundred day simple moving average of $5.51. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.72 and a current ratio of 1.13. T1 Energy has a fifty-two week low of $0.92 and a fifty-two week high of $9.78.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TE. Pekin Hardy Strauss Inc. acquired a new position in shares of T1 Energy during the fourth quarter valued at about $107,000. Kim LLC acquired a new stake in shares of T1 Energy in the 4th quarter valued at about $8,684,000. Inscription Capital LLC acquired a new stake in shares of T1 Energy in the 4th quarter valued at about $191,000. NBC Securities Inc. bought a new stake in T1 Energy in the 4th quarter valued at about $28,000. Finally, Focused Wealth Management Inc bought a new stake in T1 Energy in the 4th quarter valued at about $180,000. 52.31% of the stock is owned by 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.