T1 Energy (NYSE:TE) Trading 10.5% Higher – Still a Buy?

T1 Energy Inc (NYSE:TE)’s share price traded up 10.5% on Tuesday . The company traded as high as $4.98 and last traded at $5.0810. Approximately 3,832,009 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 27,522,340 shares. The stock had previously closed at $4.60.

Analyst Ratings Changes

TE has been the subject of a number of research analyst reports. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Needham & Company LLC cut their price objective on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Sanford C. Bernstein started coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective for the company. Northland Securities initiated coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Wall Street Zen cut shares of T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Price Performance

The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.90. The company has a 50 day moving average price of $5.44 and a 200 day moving average price of $6.52. The firm has a market cap of $1.44 billion, a PE ratio of -2.47 and a beta of 2.25.

T1 Energy (NYSE:TE) last issued its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The business had revenue of $250.13 million for the quarter. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. Sell-side analysts expect that T1 Energy Inc will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On T1 Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. boosted its holdings in shares of T1 Energy by 4.6% during the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,911 shares during the last quarter. Strs Ohio purchased a new position in shares of T1 Energy during the 4th quarter worth about $32,000. Insight Advisors LLC PA lifted its holdings in shares of T1 Energy by 21.3% during the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock worth $162,000 after acquiring an additional 6,500 shares during the period. Cetera Investment Advisers boosted its holdings in shares of T1 Energy by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock valued at $800,000 after purchasing an additional 6,537 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in T1 Energy in the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

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.