T1 Energy (NYSE:TE) Hits New 1-Year Low – Time to Sell?

T1 Energy Inc (NYSE:TE)’s share price reached a new 52-week low on Tuesday. The company traded as low as $2.06 and last traded at $2.0550, with a volume of 6,782,054 shares trading hands. The stock had previously closed at $2.29.

Analyst Ratings Changes

TE has been the topic of several recent research reports. Vertical Research initiated coverage on shares of T1 Energy in a research note on Thursday, September 17th. They issued a “hold” rating and a $5.00 price target on the stock. 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. BTIG Research raised their price objective on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Needham & Company LLC lowered their target price on T1 Energy from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Finally, Northland Securities set a $9.00 target price on T1 Energy in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Down 14.8%

The firm has a market capitalization of $534.27 million, a P/E ratio of -0.93 and a beta of 2.48. The firm’s 50 day moving average is $3.40 and its two-hundred day moving average is $5.88. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.90.

T1 Energy (NYSE:TE) last posted its quarterly earnings results on Thursday, November 12th. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $196.59 million for the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. Research analysts predict that T1 Energy Inc will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TE. Renaissance Technologies LLC lifted its stake in T1 Energy by 232.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after purchasing an additional 8,289,050 shares during the last quarter. Situational Awareness LP acquired a new position in T1 Energy during the first quarter worth approximately $43,900,000. Electron Capital Partners LLC increased its position in T1 Energy by 69.4% during the first quarter. Electron Capital Partners LLC now owns 5,929,585 shares of the utilities provider’s stock worth $26,031,000 after buying an additional 2,429,564 shares during the last quarter. Squarepoint Ops LLC raised its stake in T1 Energy by 35.2% in the second quarter. Squarepoint Ops LLC now owns 1,429,027 shares of the utilities provider’s stock valued at $13,547,000 after buying an additional 371,874 shares during the period. Finally, CenterBook Partners LP bought a new stake in T1 Energy in the third quarter valued at approximately $4,526,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

T1 Energy Company Profile

T1 Energy, formerly known as FREYR Battery, is a U.S.-focused solar manufacturing company. After initially pursuing battery production, the company shifted its strategy toward building a domestic solar supply chain. The company is developing solar manufacturing operations in Texas, including facilities intended to produce solar cells and modules. Its products are designed to serve the solar energy market, supporting the deployment of photovoltaic systems. T1 Energy’s strategy centers on expanding U.S.-based solar manufacturing and serving customers seeking domestically produced solar products.