T1 Energy (NYSE:TE) Stock Price Up 10.8% – Here’s What Happened

T1 Energy Inc (NYSE:TE) shares shot up 10.8% during mid-day trading on Tuesday . The stock traded as high as $6.98 and last traded at $6.97. 10,275,876 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 21,939,605 shares. The stock had previously closed at $6.29.

Analysts Set New Price Targets

TE has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a report on Tuesday, December 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. iA Financial set a $8.50 price target on shares of T1 Energy in a report on Tuesday, December 9th. Finally, Zacks Research raised shares of T1 Energy to a “hold” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Up 11.0%

The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87. The business has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $4.52. The company has a market cap of $1.48 billion, a PE ratio of -1.85 and a beta of 1.60.

Hedge Funds Weigh In On T1 Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TE. NBC Securities Inc. purchased a new stake in shares of T1 Energy during the fourth quarter worth about $28,000. First PREMIER Bank acquired a new stake in T1 Energy in the 4th quarter worth about $30,000. Strs Ohio acquired a new position in shares of T1 Energy during the fourth quarter valued at approximately $32,000. Russell Investments Group Ltd. acquired a new position in shares of T1 Energy during the fourth quarter valued at approximately $63,000. Finally, Elevatus Welath Management purchased a new position in shares of T1 Energy in the fourth quarter valued at approximately $67,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

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.