T1 Energy (NYSE:TE) Shares Down 18.9% – What’s Next?

Shares of T1 Energy Inc (NYSE:TE) fell 18.9% during trading on Thursday. The stock traded as low as $2.26 and last traded at $2.2150. 7,403,235 shares changed hands during trading, a decline of 71% from the average session volume of 25,902,393 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

TE has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Northland Securities set a $9.00 target price on shares of T1 Energy in a research note on Monday, October 5th. Needham & Company LLC lowered their price target on shares of T1 Energy from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. JPMorgan Chase & Co. began coverage on shares of T1 Energy in a research note on Monday, September 14th. They issued a “neutral” rating and a $5.00 price target on the stock. Finally, Wall Street Zen downgraded shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, T1 Energy presently has an average rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Trading Up 2.9%

The company has a fifty day simple moving average of $3.54 and a two-hundred day simple moving average of $5.97. 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 market capitalization of $690.67 million, a P/E ratio of -1.18 and a beta of 2.48.

T1 Energy (NYSE:TE) last issued its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. The business had revenue of $250.13 million for the quarter. On average, analysts forecast that T1 Energy Inc will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of T1 Energy

Several large investors have recently modified their holdings of the company. Diversified Trust Co bought a new position in T1 Energy in the 3rd quarter worth $163,000. Russell Investments Group Ltd. grew its position in shares of T1 Energy by 156.5% in the third quarter. Russell Investments Group Ltd. now owns 320,298 shares of the utilities provider’s stock valued at $1,236,000 after purchasing an additional 195,428 shares during the last quarter. Alps Advisors Inc. grew its position in shares of T1 Energy by 6.4% in the third quarter. Alps Advisors Inc. now owns 328,825 shares of the utilities provider’s stock valued at $1,269,000 after purchasing an additional 19,840 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of T1 Energy in the third quarter valued at about $4,526,000. Finally, Integrity Advisory Solutions LLC bought a new position in shares of T1 Energy in the third quarter worth about $40,000. 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.