T1 Energy (NYSE:TE) Trading 11.4% Higher – Should You Buy?

T1 Energy Inc (NYSE:TE)’s stock price rose 11.4% on Tuesday . The company traded as high as $8.10 and last traded at $7.9790. Approximately 6,380,551 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 20,287,186 shares. The stock had previously closed at $7.16.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Johnson Rice raised shares of T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. iA Financial set a $8.50 target price on shares of T1 Energy in a report on Tuesday, December 9th. Alliance Global Partners reissued a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. Finally, Zacks Research raised shares of T1 Energy to a “hold” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Up 1.7%

The stock’s fifty day moving average price is $7.44 and its 200-day moving average price is $4.97. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -2.15 and a beta of 1.66.

Institutional Investors Weigh In On T1 Energy

Several large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in T1 Energy during the fourth quarter worth $2,007,000. Invesco Ltd. bought a new position in shares of T1 Energy in the 4th quarter valued at about $17,405,000. Creek Drive Management Group LLC acquired a new position in shares of T1 Energy during the 4th quarter worth about $788,000. Empowered Funds LLC bought a new stake in shares of T1 Energy in the 4th quarter valued at about $3,830,000. Finally, XTX Topco Ltd bought a new stake in shares of T1 Energy in the 4th quarter valued at about $411,000. 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.