T1 Energy (NYSE:TE) Trading Down 7.3% – What’s Next?

T1 Energy Inc (NYSE:TE) shares traded down 7.3% during mid-day trading on Monday . The stock traded as low as $5.48 and last traded at $5.4230. 7,753,413 shares were traded during trading, a decline of 73% from the average daily volume of 28,235,445 shares. The stock had previously closed at $5.85.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TE shares. Northland Securities started coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Sanford C. Bernstein started coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective for the company. Wall Street Zen cut T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Needham & Company LLC lowered their price target on T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Finally, Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

T1 Energy Stock Performance

The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The company’s 50-day moving average price is $7.57 and its 200 day moving average price is $7.00. The stock has a market capitalization of $1.50 billion, a PE ratio of -2.65 and a beta of 2.24.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The company had revenue of $177.65 million during the quarter. During the same period in the previous year, the company earned ($0.11) earnings per share. On average, equities research analysts expect that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the transaction, the insider directly owned 30,652,664 shares in the company, valued at $249,512,684.96. This trade represents a 23.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TE. Sei Investments Co. boosted its holdings in T1 Energy by 4.6% in the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 1,911 shares in the last quarter. NBC Securities Inc. bought a new stake in T1 Energy during the 4th quarter valued at about $28,000. First PREMIER Bank purchased a new position in T1 Energy in the fourth quarter worth about $30,000. Strs Ohio bought a new position in shares of T1 Energy in the fourth quarter worth approximately $32,000. Finally, Insight Advisors LLC PA increased its position in shares of T1 Energy by 21.3% during the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors 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.