T1 Energy (NYSE:TE) Upgraded to Hold at Zacks Research

T1 Energy (NYSE:TE) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Finally, BTIG Research raised their target price on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

T1 Energy Trading Down 0.3%

Shares of TE stock opened at $8.68 on Wednesday. T1 Energy has a 12 month low of $0.96 and a 12 month high of $9.78. The company has a market cap of $2.42 billion, a PE ratio of -4.27 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The business’s 50 day moving average is $5.80 and its two-hundred day moving average is $6.06.

T1 Energy (NYSE:TE) last issued its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Equities analysts predict that T1 Energy will post -0.2 EPS for the current year.

Institutional Investors Weigh In On T1 Energy

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new position in shares of T1 Energy in the 4th quarter valued at $69,894,000. Situational Awareness LP acquired a new stake in T1 Energy in the 1st quarter valued at $43,900,000. Renaissance Technologies LLC grew its holdings in shares of T1 Energy by 232.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after purchasing an additional 8,289,050 shares during the last quarter. Kim LLC bought a new stake in T1 Energy during the second quarter worth about $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in T1 Energy during the 4th quarter valued at $40,080,000. 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.