T1 Energy Inc (NYSE:TE) Stock Has Consensus Target Price of $7.50

Shares of T1 Energy Inc (NYSE:TE) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.50.

Several brokerages have issued reports on TE. Wall Street Zen lowered T1 Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Needham & Company LLC reduced their price target on shares of T1 Energy from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Northland Securities set a $9.00 price target on shares of T1 Energy in a research note on Monday, October 5th. Vertical Research assumed coverage on shares of T1 Energy in a report on Thursday, September 17th. They issued a “hold” rating and a $5.00 price objective for the company. Finally, BTIG Research upped their price objective on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th.

T1 Energy Stock Performance

NYSE TE opened at $2.69 on Friday. The firm has a market cap of $792.28 million, a P/E ratio of -1.36 and a beta of 2.36. The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 3.50. The company’s 50 day moving average is $3.75 and its 200-day moving average is $6.10. T1 Energy has a 12-month low of $2.08 and a 12-month high of $12.49.

T1 Energy (NYSE:TE) last announced its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. The company had revenue of $250.13 million during the quarter. Sell-side analysts predict that T1 Energy will post -0.32 earnings per share for the current year.

Institutional Trading of T1 Energy

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in shares of T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after purchasing an additional 8,289,050 shares during the last quarter. Situational Awareness LP purchased a new stake in T1 Energy in the 1st quarter worth approximately $43,900,000. Electron Capital Partners LLC grew its position in shares of T1 Energy by 69.4% in the 1st quarter. Electron Capital Partners LLC now owns 5,929,585 shares of the utilities provider’s stock worth $26,031,000 after buying an additional 2,429,564 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of T1 Energy by 35.2% in the 2nd quarter. Squarepoint Ops LLC now owns 1,429,027 shares of the utilities provider’s stock worth $13,547,000 after buying an additional 371,874 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of T1 Energy during the second quarter valued at approximately $7,768,000. 52.31% of the stock is owned by institutional investors.

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.