T1 Energy (NYSE:TE) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of T1 Energy (NYSE:TE) from a sell rating to a strong sell rating in a research report report published on Saturday morning.

Other analysts have also issued research reports about the company. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. Northland Securities started coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price objective for the company. Sanford C. Bernstein assumed coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective on the stock. Finally, BTIG Research increased their target price on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. One equities 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.12.

T1 Energy Stock Up 2.1%

Shares of NYSE:TE opened at $4.45 on Friday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -2.25 and a beta of 2.23. T1 Energy has a 12 month low of $1.42 and a 12 month high of $12.49. The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50. The company has a 50-day moving average price of $6.59 and a 200 day moving average price of $6.75.

T1 Energy (NYSE:TE) last issued its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. The company had revenue of $250.13 million for the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. As a group, equities research analysts predict that T1 Energy will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AlphaGrep UK Ltd purchased a new position in T1 Energy in the 2nd quarter worth about $372,000. Headlands Technologies LLC bought a new stake in T1 Energy during the 2nd quarter valued at about $731,000. Ratan Capital Management LP purchased a new stake in T1 Energy in the 2nd quarter valued at about $1,896,000. Bank of New York Mellon Corp purchased a new stake in T1 Energy in the 2nd quarter valued at about $7,768,000. Finally, FNY Investment Advisers LLC boosted its position in T1 Energy by 101.9% in the 2nd quarter. FNY Investment Advisers LLC now owns 20,894 shares of the utilities provider’s stock valued at $198,000 after buying an additional 10,544 shares during the period. 52.31% of the stock is currently owned by institutional investors.

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.