T1 Energy (NYSE:TE) Stock Price Down 6.3% – Should You Sell?

T1 Energy Inc (NYSE:TE) shares traded down 6.3% during trading on Monday . The stock traded as low as $4.55 and last traded at $4.4880. 3,424,517 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 27,790,117 shares. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TE shares. BTIG Research boosted their price target on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Sanford C. Bernstein began coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. Wall Street Zen cut shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Finally, Needham & Company LLC cut their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, T1 Energy currently has a consensus rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Stock Performance

The firm has a 50 day moving average of $5.94 and a 200-day moving average of $6.58. The stock has a market capitalization of $1.26 billion, a PE ratio of -2.16 and a beta of 2.25. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30.

T1 Energy (NYSE:TE) last released its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating 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%. Research analysts forecast that T1 Energy Inc will post -0.31 earnings per share for the current year.

Institutional Trading of T1 Energy

Institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new position in T1 Energy in the 4th quarter valued at approximately $32,000. Russell Investments Group Ltd. purchased a new stake in T1 Energy in the 4th quarter worth approximately $63,000. Bryn Mawr Trust Advisors LLC acquired a new stake in shares of T1 Energy during the 4th quarter valued at $67,000. Blackhawk Capital Partners LLC acquired a new stake in shares of T1 Energy during the 1st quarter valued at $44,000. Finally, Xponance LLC purchased a new position in shares of T1 Energy during the 4th quarter valued at $69,000. 52.31% of the stock is currently 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.