T1 Energy (NYSE:TE) Shares Down 7.6% – Should You Sell?

T1 Energy Inc (NYSE:TE)’s share price dropped 7.6% during mid-day trading on Friday . The stock traded as low as $7.15 and last traded at $7.1220. Approximately 4,512,717 shares traded hands during trading, a decline of 76% from the average daily volume of 19,171,570 shares. The stock had previously closed at $7.71.

Analyst Ratings Changes

TE has been the topic of several recent analyst reports. Roth Mkm reissued a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Johnson Rice raised T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. Alliance Global Partners reissued a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 30th. Zacks Research upgraded T1 Energy to a “hold” rating in a report on Tuesday, November 25th. Finally, iA Financial set a $8.50 price target on shares of T1 Energy in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Stock Down 15.0%

The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -1.73 and a beta of 1.66. The stock’s fifty day moving average price is $7.47 and its 200-day moving average price is $5.20.

Institutional Investors Weigh In On T1 Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in T1 Energy during the 1st quarter worth about $26,000. Envestnet Asset Management Inc. acquired a new position in shares of T1 Energy during the 2nd quarter worth approximately $27,000. ProShare Advisors LLC bought a new stake in shares of T1 Energy during the 2nd quarter worth approximately $63,000. Geode Capital Management LLC acquired a new stake in shares of T1 Energy in the 2nd quarter valued at approximately $3,296,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of T1 Energy in the second quarter valued at $28,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

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.