T1 Energy (NYSE:TE) Upgraded to Hold at Wall Street Zen

T1 Energy (NYSE:TE) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. BTIG Research upped their target price on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. Northland Securities started coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price for the company. Finally, Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, T1 Energy presently has a consensus rating of “Moderate Buy” and an average target price of $9.14.

T1 Energy Stock Performance

TE stock opened at $8.50 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The company has a 50 day moving average price of $6.78 and a 200 day moving average price of $6.73. T1 Energy has a fifty-two week low of $1.15 and a fifty-two week high of $12.49. The stock has a market capitalization of $2.37 billion, a PE ratio of -4.18 and a beta of 2.14.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.13. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The firm had revenue of $177.65 million during the quarter. During the same quarter last year, the firm earned ($0.11) EPS. Analysts forecast 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 9,500,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the completion of the sale, the insider owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. The trade was a 23.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 22.44% of the company’s stock.

Hedge Funds Weigh In On T1 Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. grew its holdings in shares of T1 Energy by 4.6% in the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after buying an additional 1,911 shares during the period. NBC Securities Inc. acquired a new position in shares of T1 Energy in the 4th quarter valued at $28,000. First PREMIER Bank acquired a new position in shares of T1 Energy in the 4th quarter valued at $30,000. Strs Ohio acquired a new position in shares of T1 Energy in the 4th quarter valued at $32,000. Finally, Insight Advisors LLC PA grew its holdings in shares of T1 Energy by 21.3% in the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds 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.