T1 Energy (NYSE:TE) Trading Down 5.4% – Time to Sell?

T1 Energy Inc (NYSE:TE)’s share price dropped 5.4% during mid-day trading on Tuesday . The company traded as low as $8.32 and last traded at $8.4420. Approximately 4,653,202 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 24,262,920 shares. The stock had previously closed at $8.92.

Analyst Upgrades and Downgrades

TE has been the topic of a number of recent analyst reports. BTIG Research raised their price target on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Northland Securities began coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research note 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. Finally, Wall Street Zen raised shares of T1 Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.13.

T1 Energy Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The firm’s fifty day moving average price is $7.06 and its two-hundred day moving average price is $6.87. The stock has a market capitalization of $2.54 billion, a PE ratio of -4.48 and a beta of 2.14.

T1 Energy (NYSE:TE) last released its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm earned ($0.11) earnings per share. On average, equities analysts predict that T1 Energy Inc will post -0.2 earnings per share for the current year.

Insider Buying and Selling at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. The trade was a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.44% of the stock is owned by insiders.

Institutional Trading of T1 Energy

Large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC bought a new stake in T1 Energy during the fourth quarter valued at approximately $2,637,000. Kim LLC bought a new position in shares of T1 Energy in the fourth quarter worth approximately $8,684,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of T1 Energy during the fourth quarter worth $1,298,000. Vanguard Group Inc. bought a new position in shares of T1 Energy during the fourth quarter worth $69,894,000. Finally, DNB Asset Management AS bought a new position in shares of T1 Energy during the fourth quarter worth $995,000. 52.31% of the stock is currently owned by institutional investors.

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.