T1 Energy (NYSE:TE) Shares Gap Up – Time to Buy?

T1 Energy Inc (NYSE:TE)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.67, but opened at $6.70. T1 Energy shares last traded at $6.8810, with a volume of 25,199,049 shares changing hands.

Analyst Ratings Changes

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

T1 Energy Stock Performance

The firm has a market capitalization of $1.92 billion, a P/E ratio of -3.40 and a beta of 1.78. The stock has a 50-day moving average of $5.75 and a 200 day moving average of $5.99. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million for 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 company earned ($0.11) earnings per share. On average, research analysts anticipate that T1 Energy Inc will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its position in T1 Energy by 4.6% in the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after buying an additional 1,911 shares during the last quarter. NBC Securities Inc. bought a new position in T1 Energy in the 4th quarter valued at $28,000. First PREMIER Bank bought a new position in T1 Energy in the 4th quarter valued at $30,000. Strs Ohio bought a new position in T1 Energy in the 4th quarter valued at $32,000. Finally, Insight Advisors LLC PA boosted its position in T1 Energy by 21.3% in the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after buying an additional 6,500 shares during the last quarter. 52.31% of the stock is currently 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.