T1 Energy (NYSE:TE) Sets New 52-Week High – Time to Buy?

T1 Energy Inc (NYSE:TE)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $10.80 and last traded at $10.49, with a volume of 71847538 shares. The stock had previously closed at $8.08.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. BTIG Research increased 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

T1 Energy Trading Up 29.8%

The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market cap of $2.93 billion, a P/E ratio of -5.17 and a beta of 1.78. The firm has a fifty day moving average of $5.86 and a 200-day moving average of $6.17.

T1 Energy (NYSE:TE) last posted its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) 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 firm had revenue of $177.65 million for the quarter. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Equities research analysts forecast that T1 Energy Inc will post -0.29 earnings per share for the current year.

Insider Activity at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of T1 Energy

Several hedge funds and other institutional investors have recently modified their holdings of TE. Vanguard Group Inc. acquired a new stake in shares of T1 Energy in the fourth quarter worth $69,894,000. Situational Awareness LP acquired a new stake in T1 Energy during the first quarter valued at $43,900,000. Renaissance Technologies LLC boosted its position in T1 Energy by 232.2% during the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after purchasing an additional 8,289,050 shares during the last quarter. Kim LLC acquired a new stake in T1 Energy during the second quarter valued at $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in T1 Energy during the fourth quarter valued at $40,080,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

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.