T1 Energy (NYSE:TE) Shares Up 7.8% – Still a Buy?

T1 Energy Inc (NYSE:TE)’s share price was up 7.8% on Tuesday. The company traded as high as $2.30 and last traded at $2.2850. Approximately 2,623,980 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 25,902,828 shares. The stock had previously closed at $2.12.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TE. Needham & Company LLC decreased their price objective on shares of T1 Energy from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday. Northland Securities set a $9.00 target price on shares of T1 Energy in a report on Monday, October 5th. Weiss Ratings raised shares of T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. Wall Street Zen cut shares of T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Finally, Vertical Research started coverage on T1 Energy in a research report on Thursday, September 17th. They issued a “hold” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Trading Up 20.0%

The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The company’s 50 day moving average is $3.96 and its 200 day moving average is $6.22. The stock has a market capitalization of $749.28 million, a price-to-earnings ratio of -1.26 and a beta of 2.36.

T1 Energy (NYSE:TE) last posted its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. The company had revenue of $250.13 million for the quarter. On average, research analysts forecast that T1 Energy Inc will post -0.34 EPS for the current fiscal year.

Institutional Trading of T1 Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. raised its stake in T1 Energy by 4.6% during the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 1,911 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of T1 Energy by 993.0% during the third quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 6,256 shares in the last quarter. Insight Advisors LLC PA lifted its holdings in T1 Energy by 21.3% during the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock worth $162,000 after buying an additional 6,500 shares in the last quarter. Cetera Investment Advisers boosted its holdings in T1 Energy by 3.7% in the first quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock valued at $800,000 after acquiring an additional 6,537 shares during the last quarter. Finally, Lake Hills Wealth Management LLC boosted its stake in T1 Energy by 34.5% in the third quarter. Lake Hills Wealth Management LLC now owns 30,429 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 7,813 shares during the last quarter. Institutional investors own 52.31% of the company’s stock.

T1 Energy Company Profile

T1 Energy Inc is a U.S.-focused solar technology and manufacturing company working to develop a domestic solar supply chain. The company’s activities include the production and commercialization of solar photovoltaic modules, as well as the development of solar cell and related manufacturing capabilities.

T1 Energy operates through its G1 manufacturing facility in Texas and is developing additional solar manufacturing and energy infrastructure projects. Its products and services are intended to support utility-scale, commercial and residential solar installations in the United States.

The company was formerly known as FREYR Battery, a business established to develop lithium-ion battery manufacturing capacity.