T1 Energy (NYSE:TE) Sees Large Volume Increase – Here’s What Happened

Shares of T1 Energy Inc (NYSE:TE) saw an uptick in trading volume on Wednesday . 15,053,371 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 19,566,594 shares.The stock last traded at $8.3390 and had previously closed at $6.88.

Analyst Ratings Changes

A number of research firms recently issued reports on TE. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Zacks Research downgraded shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, April 3rd. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. Finally, BTIG Research lifted their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

T1 Energy Trading Up 28.5%

The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $2.47 billion, a P/E ratio of -4.35 and a beta of 1.78. The firm has a 50 day moving average of $5.75 and a 200-day moving average of $5.99.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.13. The business had revenue of $177.65 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter last year, the firm posted ($0.11) earnings per share. On average, equities research analysts predict that T1 Energy Inc will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

A number of large investors have recently bought and sold shares of the company. Strs Ohio bought a new position in shares of T1 Energy in the 1st quarter valued at $26,000. Envestnet Asset Management Inc. bought a new position in shares of T1 Energy in the 2nd quarter valued at $27,000. NBC Securities Inc. bought a new position in shares of T1 Energy in the fourth quarter worth about $28,000. First PREMIER Bank bought a new position in shares of T1 Energy in the fourth quarter worth about $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in shares of T1 Energy in the first quarter worth about $44,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

T1 Energy Company Profile

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.