T1 Energy (NYSE:TE) Shares Down 5.8% – Here’s What Happened

Shares of T1 Energy Inc (NYSE:TE) were down 5.8% during mid-day trading on Friday . The stock traded as low as $7.93 and last traded at $8.2140. Approximately 15,342,403 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 21,029,301 shares. The stock had previously closed at $8.72.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TE shares. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a research report on Tuesday, May 12th. BTIG Research lifted their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

T1 Energy Stock Down 7.6%

The company has a 50-day simple moving average of $5.80 and a 200-day simple moving average of $6.06. The firm has a market cap of $2.25 billion, a PE ratio of -4.00 and a beta of 1.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98.

T1 Energy (NYSE:TE) last announced its 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. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The business had revenue of $177.65 million during the quarter. During the same quarter last year, the firm earned ($0.11) EPS. Analysts expect that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of T1 Energy

Several institutional investors and hedge funds have recently modified their holdings of TE. Strs Ohio bought a new stake in shares of T1 Energy during the first quarter valued at approximately $26,000. Envestnet Asset Management Inc. bought a new position in T1 Energy in the second quarter worth approximately $27,000. NBC Securities Inc. bought a new position in T1 Energy in the fourth quarter worth approximately $28,000. First PREMIER Bank bought a new position in T1 Energy in the fourth quarter worth approximately $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in T1 Energy in the first quarter worth approximately $44,000. Institutional investors own 52.31% of the company’s stock.

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.