T1 Energy (NYSE:TE) Earns Buy Rating from Needham & Company LLC

T1 Energy (NYSE:TE)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $8.00 price target on the utilities provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 40.97% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Zacks Research cut shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. BTIG Research boosted their price target on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

T1 Energy Stock Performance

Shares of NYSE:TE traded down $0.37 during trading on Tuesday, hitting $5.68. 27,526,812 shares of the company were exchanged, compared to its average volume of 18,365,020. T1 Energy has a 52-week low of $0.93 and a 52-week high of $9.78. The stock has a 50 day moving average of $5.82 and a 200 day moving average of $5.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.43 and a quick ratio of 1.18. The company has a market cap of $1.58 billion, a PE ratio of -2.75 and a beta of 1.78.

T1 Energy (NYSE:TE) last released its quarterly earnings data on Tuesday, May 12th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 173.39% and a negative net margin of 48.11%.The company had revenue of $177.65 million for the quarter. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. As a group, equities research analysts predict that T1 Energy will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TE. NBC Securities Inc. bought a new stake in T1 Energy in the fourth quarter valued at approximately $28,000. First PREMIER Bank bought a new stake in shares of T1 Energy in the fourth quarter worth about $30,000. Strs Ohio purchased a new stake in T1 Energy in the 4th quarter worth approximately $32,000. Russell Investments Group Ltd. bought a new stake in shares of T1 Energy in the 4th quarter worth approximately $63,000. Finally, Elevatus Welath Management bought a new stake in shares of T1 Energy in the 4th quarter worth approximately $67,000. 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.