T1 Energy (NYSE:TE) Announces Quarterly Earnings Results, Misses Expectations By $0.90 EPS

T1 Energy (NYSE:TE) released its quarterly earnings results on Tuesday. The utilities provider reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.90), FiscalAI reports. T1 Energy had a negative net margin of 133.07% and a negative return on equity of 121.17%. The business had revenue of $358.55 million for the quarter. During the same quarter last year, the firm posted ($2.59) earnings per share.

T1 Energy Trading Up 4.4%

Shares of TE stock traded up $0.19 on Wednesday, reaching $4.58. 3,827,992 shares of the company’s stock were exchanged, compared to its average volume of 18,580,119. The company’s fifty day simple moving average is $7.24 and its 200 day simple moving average is $5.49. T1 Energy has a 52 week low of $0.92 and a 52 week high of $9.78. 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 stock has a market capitalization of $973.29 million, a PE ratio of -1.21 and a beta of 1.66.

Institutional Trading of T1 Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in shares of T1 Energy during the first quarter worth $26,000. Envestnet Asset Management Inc. bought a new position in shares of T1 Energy in the second quarter worth about $27,000. Geode Capital Management LLC bought a new position in shares of T1 Energy in the second quarter worth about $3,296,000. Police & Firemen s Retirement System of New Jersey purchased a new position in T1 Energy in the 2nd quarter worth about $28,000. Finally, Cetera Investment Advisers bought a new stake in T1 Energy during the 2nd quarter valued at about $162,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TE shares. Needham & Company LLC restated a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. iA Financial set a $8.50 price objective on T1 Energy in a research note on Tuesday, December 9th. Johnson Rice upgraded T1 Energy to a “strong-buy” rating in a research report on Tuesday, December 2nd. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.50.

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.