T1 Energy (NYSE:TE) Stock Price Up 9.3% – Time to Buy?

T1 Energy Inc (NYSE:TE)’s stock price rose 9.3% during trading on Monday . The stock traded as high as $6.78 and last traded at $6.73. Approximately 8,463,115 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 21,618,367 shares. The stock had previously closed at $6.16.

Analyst Ratings Changes

A number of research firms have recently issued reports on TE. Alliance Global Partners restated a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 30th. Zacks Research upgraded shares of T1 Energy to a “hold” rating in a research report on Tuesday, November 25th. Roth Mkm restated a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. Johnson Rice upgraded T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. Finally, iA Financial set a $8.50 price target on T1 Energy in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Up 8.4%

The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -1.87 and a beta of 1.66. The firm’s 50 day simple moving average is $7.38 and its two-hundred day simple moving average is $4.75.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds have recently added to or reduced their stakes in TE. NBC Securities Inc. acquired a new position in T1 Energy in the 4th quarter valued at $28,000. First PREMIER Bank acquired a new position in T1 Energy in the fourth quarter valued at about $30,000. Strs Ohio bought a new stake in T1 Energy during the fourth quarter worth about $32,000. Russell Investments Group Ltd. bought a new stake in T1 Energy during the fourth quarter worth about $63,000. Finally, Elevatus Welath Management acquired a new stake in T1 Energy during the fourth quarter worth about $67,000. 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.