T1 Energy (NYSE:TE) Stock Price Down 12.8% – What’s Next?

Shares of T1 Energy Inc (NYSE:TE) dropped 12.8% on Friday . The stock traded as low as $9.97 and last traded at $10.1620. Approximately 6,704,704 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 23,403,350 shares. The stock had previously closed at $11.66.

Wall Street Analyst Weigh In

TE has been the topic of a number of recent research reports. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. 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. BTIG Research lifted their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Northland Securities initiated coverage on shares of T1 Energy in a report on Wednesday. They issued an “outperform” rating and a $16.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.14.

T1 Energy Stock Performance

The stock has a 50 day moving average of $6.41 and a two-hundred day moving average of $6.52. The stock has a market capitalization of $2.65 billion, a PE ratio of -4.70 and a beta of 2.14. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98.

T1 Energy (NYSE:TE) last released its 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 company had revenue of $177.65 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same period last year, the business posted ($0.11) EPS. Research analysts expect that T1 Energy Inc will post -0.29 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the business’s stock in a transaction dated 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 sale, the insider owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. The trade was a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T1 Energy

Institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new stake in T1 Energy during the first quarter worth $26,000. Envestnet Asset Management Inc. purchased a new position in shares of T1 Energy in the second quarter valued at $27,000. NBC Securities Inc. acquired a new position in shares of T1 Energy during the 4th quarter worth $28,000. First PREMIER Bank acquired a new position in shares of T1 Energy during the 4th quarter worth $30,000. Finally, Blackhawk Capital Partners LLC purchased a new stake in shares of T1 Energy in the 1st quarter worth about $44,000. Hedge funds and other 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.