T1 Energy (NYSE:TE) Shares Up 7.8% – Still a Buy?

T1 Energy Inc (NYSE:TE)’s stock price traded up 7.8% during trading on Tuesday . The company traded as high as $6.65 and last traded at $6.60. 14,878,882 shares traded hands during trading, a decline of 36% from the average session volume of 23,131,260 shares. The stock had previously closed at $6.12.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. iA Financial set a $8.50 price objective on T1 Energy in a report on Tuesday, December 9th. Johnson Rice upgraded shares of T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Finally, Wall Street Zen lowered shares of T1 Energy from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Performance

The stock’s 50-day simple moving average is $7.25 and its 200 day simple moving average is $4.37. The company has a market capitalization of $1.37 billion, a PE ratio of -1.71 and a beta of 1.60. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.72 and a current ratio of 1.13.

T1 Energy (NYSE:TE) last released its quarterly earnings data on Friday, November 14th. The utilities provider reported ($0.85) earnings per share (EPS) for the quarter. The firm had revenue of $210.52 million for the quarter. T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.

Institutional Investors Weigh In On T1 Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. acquired a new position in T1 Energy in the fourth quarter valued at approximately $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the fourth quarter worth approximately $30,000. Strs Ohio purchased a new stake in shares of T1 Energy during the 4th quarter worth approximately $32,000. Russell Investments Group Ltd. acquired a new position in shares of T1 Energy in the 4th quarter valued at $63,000. Finally, Elevatus Welath Management purchased a new position in shares of T1 Energy in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

About T1 Energy

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.