T1 Energy (NYSE:TE) Stock Price Up 9.7% – What’s Next?

Shares of T1 Energy Inc (NYSE:TE) traded up 9.7% on Tuesday . The stock traded as high as $9.65 and last traded at $9.74. Approximately 18,025,957 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 25,220,070 shares. The stock had previously closed at $8.88.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BTIG Research boosted their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Sanford C. Bernstein initiated coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective on the stock. Finally, Northland Securities assumed coverage on T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.12.

T1 Energy Trading Down 7.4%

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 stock has a market capitalization of $2.37 billion, a PE ratio of -4.13 and a beta of 2.16. The business’s 50-day moving average is $7.94 and its two-hundred day moving average is $7.15.

T1 Energy (NYSE:TE) last issued its 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. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The firm had revenue of $177.65 million for the quarter. During the same period in the prior year, the business earned ($0.11) earnings per share. On average, analysts predict that T1 Energy Inc will post -0.2 earnings per share for the current year.

Insider Transactions at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T1 Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of T1 Energy in the 1st quarter worth approximately $26,000. Envestnet Asset Management Inc. acquired a new position in shares of T1 Energy in the second quarter worth $27,000. NBC Securities Inc. purchased a new stake in shares of T1 Energy during the 4th quarter worth about $28,000. First PREMIER Bank bought a new position in T1 Energy during the fourth quarter valued at approximately $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in shares of T1 Energy during the 1st quarter valued at $44,000. 52.31% of the stock is owned by institutional investors.

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.