T1 Energy (NYSE:TE) Stock Falls 10.1% – What’s Next?

T1 Energy Inc (NYSE:TE) shares dropped 10.1% during mid-day trading on Friday. The company traded as low as $2.65 and last traded at $2.6350. 8,905,491 shares were traded during trading, a decline of 66% from the average session volume of 26,347,904 shares. The stock had previously closed at $2.93.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings downgraded T1 Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. BTIG Research upped their price objective on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. initiated coverage on T1 Energy in a research note on Monday, September 14th. They issued a “neutral” rating and a $5.00 price objective on the stock. Needham & Company LLC cut their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Finally, Northland Securities set a $9.00 price target on T1 Energy in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.60.

T1 Energy Trading Down 10.4%

The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 3.50. The company’s 50-day moving average is $4.23 and its 200 day moving average is $5.91. The company has a market cap of $773.14 million, a price-to-earnings ratio of -1.33 and a beta of 2.36.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The company had revenue of $250.13 million during the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. Research analysts predict that T1 Energy Inc will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. SLT Holdings LLC purchased a new stake in T1 Energy in the 3rd quarter worth $237,000. B. Riley Wealth Advisors Inc. acquired a new position in T1 Energy during the third quarter worth $46,000. Green Alpha Advisors LLC lifted its holdings in T1 Energy by 3.6% during the third quarter. Green Alpha Advisors LLC now owns 248,075 shares of the utilities provider’s stock valued at $958,000 after purchasing an additional 8,665 shares in the last quarter. Apella Capital LLC lifted its holdings in T1 Energy by 68.1% during the third quarter. Apella Capital LLC now owns 55,523 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 22,500 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its holdings in T1 Energy by 112.1% during the third quarter. Venture Visionary Partners LLC now owns 248,309 shares of the utilities provider’s stock valued at $958,000 after purchasing an additional 131,213 shares in the last quarter. 52.31% of the stock is owned by institutional investors and hedge funds.

T1 Energy Company Profile

T1 Energy Inc (NYSE:TE) is a U.S.-focused renewable energy company developing domestic solar manufacturing and related clean-energy infrastructure. The company’s activities center on producing solar photovoltaic components, including solar cells and modules, for the North American market.

T1 Energy is developing its Project Jupiter solar manufacturing platform in Texas, which is intended to support the production of solar products within the United States. The company’s strategy emphasizes strengthening the domestic solar supply chain and serving utility-scale, commercial, and other solar-energy applications.

The company was formerly known as FREYR Battery and previously pursued lithium-ion battery manufacturing projects.