T1 Energy (NYSE:TE) Trading Down 6.8% – Time to Sell?

T1 Energy Inc (NYSE:TE) fell 6.8% during mid-day trading on Thursday . The company traded as low as $6.12 and last traded at $6.2090. Approximately 7,136,525 shares were traded during trading, a decline of 72% from the average daily volume of 25,782,758 shares. The stock had previously closed at $6.66.

Wall Street Analyst Weigh In

TE has been the topic of a number of research reports. Wall Street Zen lowered shares of T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. BTIG Research boosted their price objective on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Northland Securities initiated coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. Finally, Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.12.

T1 Energy Trading Down 11.8%

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 business’s 50-day moving average is $8.39 and its 200 day moving average is $7.24. The firm has a market capitalization of $1.64 billion, a P/E ratio of -2.88 and a beta of 2.16.

T1 Energy (NYSE:TE) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.13. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The company had revenue of $177.65 million for the quarter. During the same period in the prior year, the business posted ($0.11) earnings per share. As a group, analysts anticipate that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Insider Transactions at T1 Energy

In other T1 Energy 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 transaction of $77,330,000.00. Following the transaction, the insider owned 30,652,664 shares in the company, valued at $249,512,684.96. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.44% of the stock is owned by corporate insiders.

Institutional Trading of T1 Energy

Several large investors have recently modified their holdings of the stock. Jennison Associates LLC acquired a new stake in T1 Energy in the fourth quarter valued at about $2,637,000. Kim LLC bought a new stake in shares of T1 Energy during the 4th quarter valued at approximately $8,684,000. Vanguard Group Inc. bought a new stake in shares of T1 Energy during the 4th quarter valued at approximately $69,894,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in T1 Energy during the 4th quarter worth approximately $1,298,000. Finally, Halter Ferguson Financial Inc. acquired a new position in T1 Energy during the 4th quarter worth approximately $8,504,000. 52.31% of the stock is owned by institutional investors and hedge funds.

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.