T1 Energy Inc (NYSE:TE) Receives $9.00 Consensus Target Price from Analysts

Shares of T1 Energy Inc (NYSE:TE) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.1250.

Several equities analysts have recently issued reports on the company. Needham & Company LLC cut their price target on T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Northland Securities began coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Wall Street Zen lowered T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. Finally, BTIG Research upped their target price on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday.

T1 Energy Trading Down 9.7%

Shares of TE stock opened at $4.94 on Monday. T1 Energy has a 12-month low of $1.20 and a 12-month high of $12.49. The company has a market capitalization of $1.38 billion, a P/E ratio of -2.43 and a beta of 2.23. The firm has a 50-day moving average price of $7.20 and a 200 day moving average price of $6.94. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $250.13 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%. Research analysts forecast that T1 Energy will post -0.2 earnings per share for the current fiscal year.

Insider Activity at T1 Energy

In related 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 owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 22.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 8,289,050 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of T1 Energy in the fourth quarter valued at about $2,637,000. Electron Capital Partners LLC lifted its holdings in shares of T1 Energy by 69.4% in the first quarter. Electron Capital Partners LLC now owns 5,929,585 shares of the utilities provider’s stock valued at $26,031,000 after purchasing an additional 2,429,564 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of T1 Energy in the first quarter valued at about $2,046,000. Finally, Situational Awareness LP acquired a new position in shares of T1 Energy during the first quarter worth about $43,900,000. 52.31% of the stock is currently owned by institutional investors.

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.