T1 Energy (NYSE:TE) Shares Gap Up – What’s Next?

T1 Energy Inc (NYSE:TE)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $2.83, but opened at $3.25. T1 Energy shares last traded at $3.2040, with a volume of 13,110,243 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BTIG Research upped their target price on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Vertical Research started coverage on T1 Energy in a report on Thursday, September 17th. They issued a “hold” rating and a $5.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of T1 Energy in a research note on Monday, September 14th. They set a “neutral” rating and a $5.00 price objective for the company. Finally, Weiss Ratings raised shares of T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Stock Up 6.2%

The business has a 50-day moving average of $3.68 and a 200-day moving average of $6.05. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The stock has a market capitalization of $885.06 million, a price-to-earnings ratio of -1.51 and a beta of 2.48.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $250.13 million during the quarter. On average, sell-side analysts expect that T1 Energy Inc will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. grew its position in shares of T1 Energy by 6.4% during the third quarter. Alps Advisors Inc. now owns 328,825 shares of the utilities provider’s stock worth $1,269,000 after buying an additional 19,840 shares in the last quarter. CenterBook Partners LP acquired a new position in T1 Energy in the third quarter valued at $4,526,000. Integrity Advisory Solutions LLC acquired a new position in T1 Energy during the third quarter worth approximately $40,000. Fifth Third Wealth Advisors LLC purchased a new stake in T1 Energy in the 3rd quarter valued at $69,000. Finally, Sterling Capital Management LLC boosted its stake in shares of T1 Energy by 993.0% during the third quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider’s stock worth $27,000 after buying an additional 6,256 shares during the period. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

T1 Energy Company Profile

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.