T1 Energy Inc (NYSE:TE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of T1 Energy Inc (NYSE:TE) have earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.1250.

A number of equities research analysts have issued reports on the stock. 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 reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Northland Securities assumed coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Wall Street Zen downgraded shares of T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday.

T1 Energy Stock Performance

Shares of TE opened at $9.30 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a 50 day moving average price of $7.27 and a two-hundred day moving average price of $6.93. The firm has a market capitalization of $2.60 billion, a P/E ratio of -4.58 and a beta of 2.14. T1 Energy has a 52 week low of $1.15 and a 52 week high of $12.49.

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

Insider Transactions 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 dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider directly owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. This represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On T1 Energy

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares during the last quarter. Vanguard Group Inc. purchased a new position in T1 Energy in the fourth quarter valued at about $69,894,000. Situational Awareness LP purchased a new position in T1 Energy in the first quarter valued at about $43,900,000. Kim LLC purchased a new position in T1 Energy in the second quarter valued at about $8,816,000. Finally, Southpoint Capital Advisors LP purchased a new position in T1 Energy in the fourth quarter valued at about $40,080,000. 52.31% of the stock is owned by institutional investors.

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.