T1 Energy (NYSE:TE) Stock Price Up 10.5% – Here’s Why

Shares of T1 Energy Inc (NYSE:TE) rose 10.5% during mid-day trading on Tuesday . The stock traded as high as $4.98 and last traded at $5.0810. 3,832,009 shares were traded during trading, a decline of 86% from the average session volume of 27,522,340 shares. The stock had previously closed at $4.60.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TE shares. Needham & Company LLC cut their target price on T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. BTIG Research raised their price target on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Northland Securities began coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, Wall Street Zen downgraded shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. One research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, T1 Energy presently has an average rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Stock Performance

The stock’s 50-day moving average price is $5.62 and its 200-day moving average price is $6.53. The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50. The company has a market capitalization of $1.54 billion, a P/E ratio of -2.64 and a beta of 2.25.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $250.13 million during the quarter. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. As a group, equities analysts expect that T1 Energy Inc will post -0.31 EPS for the current year.

Hedge Funds Weigh In On T1 Energy

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new position in T1 Energy during the 4th quarter worth $69,894,000. Situational Awareness LP bought a new stake in T1 Energy in the first quarter valued at $43,900,000. Renaissance Technologies LLC lifted 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 buying an additional 8,289,050 shares during the last quarter. Kim LLC acquired a new position in shares of T1 Energy during the second quarter valued at $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new position in shares of T1 Energy during the fourth quarter valued at $40,080,000. 52.31% of the stock is owned by institutional investors.

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.