T1 Energy (NYSE:TE) Trading 11.4% Higher – Here’s Why

T1 Energy Inc (NYSE:TE) rose 11.4% during trading on Tuesday . The stock traded as high as $8.10 and last traded at $7.9790. Approximately 6,380,551 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 20,287,186 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research note on Monday, December 29th. Needham & Company LLC reissued a “buy” rating on shares of T1 Energy in a research note on Thursday, December 11th. iA Financial set a $8.50 price objective on shares of T1 Energy in a research note on Tuesday, December 9th. Johnson Rice upgraded shares of T1 Energy to a “strong-buy” rating in a report on Tuesday, December 2nd. Finally, Zacks Research raised shares of T1 Energy to a “hold” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Performance

The firm has a fifty day moving average price of $7.38 and a 200 day moving average price of $4.91. The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87. The firm has a market cap of $1.69 billion, a PE ratio of -2.11 and a beta of 1.66.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TE. Caitong International Asset Management Co. Ltd purchased a new position in T1 Energy in the fourth quarter worth approximately $2,007,000. Invesco Ltd. purchased a new stake in T1 Energy in the fourth quarter valued at $17,405,000. Creek Drive Management Group LLC acquired a new position in shares of T1 Energy in the 4th quarter valued at $788,000. Empowered Funds LLC purchased a new position in shares of T1 Energy during the 4th quarter worth $3,830,000. Finally, XTX Topco Ltd purchased a new position in shares of T1 Energy during the 4th quarter worth $411,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

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.