T1 Energy (NYSE:TE) Shares Gap Down – Time to Sell?

T1 Energy Inc (NYSE:TE)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $4.90, but opened at $4.35. T1 Energy shares last traded at $3.7550, with a volume of 9,721,645 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TE. 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 note on Tuesday, May 12th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. Sanford C. Bernstein started coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 target price for the company. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, T1 Energy presently has an average rating of “Moderate Buy” and a consensus target price of $9.12.

T1 Energy Stock Down 13.6%

The company has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $7.17. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $1.18 billion, a P/E ratio of -2.10 and a beta of 2.16.

T1 Energy (NYSE:TE) last posted its quarterly earnings data 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. The business had revenue of $177.65 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same period in the previous year, the business earned ($0.11) earnings per share. As a group, equities analysts predict that T1 Energy Inc will post -0.2 EPS for the current year.

Insider Transactions at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the completion of the transaction, the insider directly owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T1 Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of T1 Energy in the 4th quarter worth about $28,000. First PREMIER Bank purchased a new position in shares of T1 Energy during the 4th quarter worth about $30,000. Strs Ohio bought a new position in T1 Energy during the 4th quarter valued at about $32,000. Russell Investments Group Ltd. bought a new position in T1 Energy during the 4th quarter valued at about $63,000. Finally, WESPAC Advisors LLC purchased a new stake in T1 Energy in the 4th quarter worth about $67,000. Hedge funds and other 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.