T1 Energy Inc (NYSE:TE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of T1 Energy Inc (NYSE:TE) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.1250.

TE has been the subject of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Northland Securities initiated coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Wall Street Zen downgraded shares of T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. Finally, BTIG Research upped their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th.

Insider Activity at T1 Energy

In other 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On T1 Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its holdings in shares of T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after buying an additional 8,289,050 shares during the last quarter. Vanguard Group Inc. purchased a new stake in shares of T1 Energy in the fourth quarter valued at about $69,894,000. Situational Awareness LP purchased a new stake in shares of T1 Energy in the first quarter valued at about $43,900,000. Kim LLC purchased a new stake in shares of T1 Energy in the second quarter valued at about $8,816,000. Finally, Southpoint Capital Advisors LP purchased a new stake in shares of T1 Energy in the fourth quarter valued at about $40,080,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

T1 Energy Stock Performance

Shares of TE stock opened at $8.47 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The firm has a fifty day moving average price of $7.63 and a 200 day moving average price of $7.07. The company has a market cap of $2.36 billion, a P/E ratio of -4.17 and a beta of 2.14. T1 Energy has a 12 month low of $1.15 and a 12 month high of $12.49.

T1 Energy (NYSE:TE) last released its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) 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 company had revenue of $177.65 million during the quarter. During the same quarter in the prior year, the company earned ($0.11) EPS. Sell-side analysts predict that T1 Energy will post -0.2 earnings per share 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.