T1 Energy (NYSE:TE) Reaches New 1-Year Low – Here’s Why

T1 Energy Inc (NYSE:TE) reached a new 52-week low during trading on Monday. The company traded as low as $2.52 and last traded at $2.5050, with a volume of 7,282,795 shares trading hands. The stock had previously closed at $2.62.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings upgraded T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Wall Street Zen downgraded shares of T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. BTIG Research upped their target price on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Needham & Company LLC reduced their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Finally, Vertical Research started coverage on shares of T1 Energy in a report on Thursday, September 17th. They issued a “hold” rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.60.

T1 Energy Price Performance

The business has a 50 day moving average price of $4.11 and a two-hundred day moving average price of $5.89. The stock has a market cap of $728.96 million, a PE ratio of -1.25 and a beta of 2.36. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30.

T1 Energy (NYSE:TE) last released its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that T1 Energy Inc will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TE. SLT Holdings LLC bought a new stake in shares of T1 Energy in the 3rd quarter worth approximately $237,000. B. Riley Wealth Advisors Inc. bought a new position in T1 Energy in the 3rd quarter worth about $46,000. Green Alpha Advisors LLC boosted its position in shares of T1 Energy by 3.6% in the third quarter. Green Alpha Advisors LLC now owns 248,075 shares of the utilities provider’s stock valued at $958,000 after acquiring an additional 8,665 shares during the period. Apella Capital LLC boosted its holdings in T1 Energy by 68.1% in the 3rd 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 during the period. Finally, Venture Visionary Partners LLC grew its position 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 worth $958,000 after buying an additional 131,213 shares in the last quarter. Institutional investors own 52.31% of the company’s stock.

About T1 Energy

T1 Energy Inc is a U.S.-focused solar technology and manufacturing company working to develop a domestic solar supply chain. The company’s activities include the production and commercialization of solar photovoltaic modules, as well as the development of solar cell and related manufacturing capabilities.

T1 Energy operates through its G1 manufacturing facility in Texas and is developing additional solar manufacturing and energy infrastructure projects. Its products and services are intended to support utility-scale, commercial and residential solar installations in the United States.

The company was formerly known as FREYR Battery, a business established to develop lithium-ion battery manufacturing capacity.