T1 Energy (NYSE:TE) Shares Up 16.5% – Should You Buy?

Shares of T1 Energy Inc (NYSE:TE) shot up 16.5% during mid-day trading on Tuesday . The company traded as high as $9.50 and last traded at $9.41. 14,071,017 shares traded hands during trading, a decline of 35% from the average session volume of 21,552,600 shares. The stock had previously closed at $8.08.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TE. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Finally, BTIG Research lifted their price objective on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One research 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 assigned a Sell rating to the stock. According to MarketBeat, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

T1 Energy Stock Performance

The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The firm has a market capitalization of $3.02 billion, a P/E ratio of -5.34 and a beta of 1.78. The stock’s 50 day moving average is $5.92 and its two-hundred day moving average is $6.21.

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

Insider Activity at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the company’s stock in a transaction dated 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 directly owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. This represents a 23.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after acquiring an additional 8,289,050 shares during the last quarter. Vanguard Group Inc. bought a new position in T1 Energy during the 4th quarter worth approximately $69,894,000. Situational Awareness LP bought a new position in T1 Energy during the 1st quarter worth approximately $43,900,000. Kim LLC bought a new position in T1 Energy during the 2nd quarter worth approximately $8,816,000. Finally, Southpoint Capital Advisors LP bought a new position in T1 Energy during the 4th quarter worth approximately $40,080,000. Institutional investors 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.