T1 Energy (NYSE:TE) Stock Price Up 8.2% Following Analyst Upgrade

T1 Energy Inc (NYSE:TE) was up 8.2% during trading on Wednesday after Sanford C. Bernstein upgraded the stock to a hold rating. The company traded as high as $9.46 and last traded at $9.3340. 12,084,813 shares were traded during trading, a decline of 50% from the average session volume of 24,407,840 shares. The stock had previously closed at $8.63.

TE has been the subject of a number of other reports. Wall Street Zen raised T1 Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. BTIG Research increased their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.12.

Insider Activity

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the sale, the insider owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.44% of the company’s stock.

Institutional Trading of T1 Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in T1 Energy by 8,445.7% in the first quarter. NewEdge Advisors LLC now owns 86,141 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 85,133 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of T1 Energy by 435.9% in the 1st quarter. Bank of America Corp DE now owns 752,961 shares of the utilities provider’s stock valued at $3,305,000 after acquiring an additional 612,452 shares in the last quarter. Amundi increased its position in shares of T1 Energy by 17.0% in the first quarter. Amundi now owns 169,881 shares of the utilities provider’s stock valued at $746,000 after acquiring an additional 24,634 shares during the last quarter. Situational Awareness LP bought a new stake in T1 Energy during the first quarter worth about $43,900,000. Finally, California State Teachers Retirement System boosted its position in T1 Energy by 11.0% during the first quarter. California State Teachers Retirement System now owns 240,003 shares of the utilities provider’s stock valued at $1,054,000 after purchasing an additional 23,749 shares during the last quarter. 52.31% of the stock is currently owned by institutional investors and hedge funds.

T1 Energy Stock 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 stock has a 50 day simple moving average of $7.17 and a two-hundred day simple moving average of $6.91. The stock has a market capitalization of $2.60 billion, a P/E ratio of -4.58 and a beta of 2.14.

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

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.