T1 Energy (NYSE:TE) Coverage Initiated at Northland Securities

Stock analysts at Northland Securities started coverage on shares of T1 Energy (NYSE:TE) in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $16.00 price target on the utilities provider’s stock. Northland Securities’ price objective indicates a potential upside of 32.28% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. BTIG Research increased their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, T1 Energy currently has an average rating of “Moderate Buy” and an average target price of $9.14.

T1 Energy Stock Performance

NYSE TE opened at $12.10 on Wednesday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -5.96 and a beta of 2.14. T1 Energy has a twelve month low of $1.04 and a twelve month high of $12.25. The stock has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $6.35. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period last year, the company posted ($0.11) EPS. Sell-side analysts expect that T1 Energy will post -0.29 EPS for the current year.

Insider Activity at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. This trade represents a 24.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T1 Energy

Several hedge funds have recently modified their holdings of the company. Sei Investments Co. increased its stake in shares of T1 Energy by 4.6% during the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,911 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of T1 Energy during the 4th quarter worth approximately $28,000. First PREMIER Bank purchased a new stake in shares of T1 Energy during the 4th quarter worth approximately $30,000. Strs Ohio purchased a new stake in shares of T1 Energy during the 4th quarter worth approximately $32,000. Finally, Insight Advisors LLC PA increased its stake in shares of T1 Energy by 21.3% during the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 6,500 shares during the last quarter. 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.