T1 Energy (NYSE:TE) Upgraded by Sanford C. Bernstein to Hold Rating

Sanford C. Bernstein upgraded shares of T1 Energy (NYSE:TE) to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Wall Street Zen raised shares of T1 Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a report on Tuesday, May 12th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Northland Securities began coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.13.

T1 Energy Price Performance

Shares of NYSE TE opened at $9.09 on Tuesday. The firm has a 50-day simple moving average of $7.06 and a 200-day simple moving average of $6.87. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -4.48 and a beta of 2.14. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. T1 Energy has a 52 week low of $1.15 and a 52 week high of $12.49.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The firm had revenue of $177.65 million during the quarter. During the same period in the prior year, the company posted ($0.11) EPS. On average, equities analysts predict that T1 Energy will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 22.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC purchased a new position in T1 Energy during the fourth quarter worth about $2,637,000. Kim LLC purchased a new position in T1 Energy during the fourth quarter worth about $8,684,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in T1 Energy during the fourth quarter worth about $1,298,000. Vanguard Group Inc. purchased a new position in T1 Energy during the fourth quarter worth about $69,894,000. Finally, DNB Asset Management AS purchased a new position in T1 Energy during the fourth quarter worth about $995,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

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.