T1 Energy (NYSE:TE) Stock Price Up 9.8% – Here’s What Happened

T1 Energy Inc (NYSE:TE) was up 9.8% during trading on Tuesday . The stock traded as high as $9.00 and last traded at $8.94. Approximately 4,427,679 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 24,447,809 shares. The stock had previously closed at $8.14.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TE. Johnson Rice raised shares of T1 Energy to a “strong-buy” rating in a report on Tuesday, December 2nd. Wall Street Zen cut T1 Energy from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Industrial Alliance Securities set a $8.50 price objective on T1 Energy in a research note on Tuesday, December 9th. BTIG Research lifted their price objective on T1 Energy from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Roth Mkm reissued a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Up 11.5%

The firm’s 50 day moving average is $6.05 and its two-hundred day moving average is $3.66. The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -2.40 and a beta of 1.56.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Friday, November 14th. The utilities provider reported ($0.85) earnings per share for the quarter. T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.The company had revenue of $210.52 million for the quarter.

Institutional Trading of T1 Energy

Several institutional investors have recently made changes to their positions in the stock. First PREMIER Bank acquired a new stake in shares of T1 Energy during the 4th quarter worth $30,000. Elevatus Welath Management acquired a new stake in T1 Energy during the fourth quarter worth about $67,000. WESPAC Advisors LLC purchased a new position in shares of T1 Energy in the 4th quarter worth about $67,000. Quintet Private Bank Europe S.A. acquired a new position in shares of T1 Energy in the 4th quarter valued at about $90,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of T1 Energy during the 4th quarter worth about $100,000. 52.31% of the stock is owned by hedge funds and other 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.