T1 Energy (NYSE:TE) Stock Price Up 16.5% – Time to Buy?

Shares of T1 Energy Inc (NYSE:TE) rose 16.5% during mid-day trading on Tuesday . The stock traded as high as $9.50 and last traded at $9.41. Approximately 14,071,017 shares traded hands during trading, a decline of 35% from the average daily volume of 21,552,600 shares. The stock had previously closed at $8.08.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TE shares. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. Finally, BTIG Research raised their target price on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

T1 Energy Stock Up 31.1%

The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -5.22 and a beta of 1.78. The firm has a 50 day simple moving average of $5.80 and a two-hundred day simple moving average of $6.12. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter in the prior year, the business earned ($0.11) earnings per share. As a group, sell-side analysts expect that T1 Energy Inc will post -0.29 EPS for the current year.

Hedge Funds Weigh In On T1 Energy

Several institutional investors and hedge funds have recently made changes to their positions in TE. Vanguard Group Inc. bought a new stake in shares of T1 Energy in the 4th quarter valued at $69,894,000. Situational Awareness LP bought a new position in T1 Energy during the first quarter worth about $43,900,000. Renaissance Technologies LLC grew its stake in T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares during the period. Kim LLC bought a new stake in shares of T1 Energy in the second quarter worth about $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of T1 Energy during the fourth quarter worth about $40,080,000. Institutional investors and hedge funds 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.