T1 Energy (NYSE:TE) Shares Up 9.4% – Should You Buy?

T1 Energy Inc (NYSE:TE)’s share price traded up 9.4% during trading on Thursday . The company traded as high as $5.05 and last traded at $4.9340. 5,969,694 shares were traded during mid-day trading, a decline of 79% from the average session volume of 27,806,432 shares. The stock had previously closed at $4.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TE shares. Needham & Company LLC lowered their target price on T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Northland Securities initiated coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target for the company. BTIG Research raised their price objective on T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Finally, Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.12.

T1 Energy Stock Up 7.9%

The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The company’s 50-day moving average price is $6.33 and its 200 day moving average price is $6.67. The stock has a market capitalization of $1.43 billion, a P/E ratio of -2.45 and a beta of 2.23.

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

Hedge Funds Weigh In On T1 Energy

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its position in shares of T1 Energy by 821.3% during the second quarter. California State Teachers Retirement System now owns 2,211,096 shares of the utilities provider’s stock worth $20,961,000 after purchasing an additional 1,971,093 shares in the last quarter. AlphaGrep UK Ltd purchased a new position in T1 Energy in the 2nd quarter worth approximately $372,000. Headlands Technologies LLC bought a new position in T1 Energy in the 2nd quarter worth approximately $731,000. Ratan Capital Management LP bought a new position in T1 Energy in the 2nd quarter worth approximately $1,896,000. Finally, Bank of New York Mellon Corp purchased a new stake in T1 Energy during the 2nd quarter valued at approximately $7,768,000. 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.