T1 Energy (NYSE:TE) Rating Lowered to Strong Sell at Wall Street Zen

T1 Energy (NYSE:TE) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

TE has been the subject of several other research reports. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Northland Securities began coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. BTIG Research increased their price objective on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein initiated coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.12.

T1 Energy Stock Performance

NYSE:TE opened at $4.45 on Friday. The stock’s fifty day moving average is $6.59 and its 200 day moving average is $6.74. T1 Energy has a fifty-two week low of $1.42 and a fifty-two week high of $12.49. The firm has a market capitalization of $1.31 billion, a PE ratio of -2.25 and a beta of 2.24. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%.The company had revenue of $250.13 million during the quarter. On average, sell-side analysts anticipate that T1 Energy will post -0.31 earnings per share for the current year.

Institutional Trading of T1 Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. purchased a new stake in shares of T1 Energy during the fourth quarter valued at $69,894,000. Situational Awareness LP purchased a new position in T1 Energy in the 1st quarter worth about $43,900,000. Renaissance Technologies LLC increased 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 worth $52,058,000 after buying an additional 8,289,050 shares during the period. Kim LLC bought a new stake in T1 Energy during the 2nd quarter valued at about $8,816,000. Finally, Southpoint Capital Advisors LP bought a new stake in T1 Energy during the 4th quarter valued at about $40,080,000. 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.