T1 Energy (NYSE:TE) Stock Price Up 10.8% – Time to Buy?

T1 Energy Inc (NYSE:TE)’s share price shot up 10.8% during trading on Tuesday . The stock traded as high as $6.98 and last traded at $6.97. 10,275,876 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 21,939,605 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. Zacks Research raised shares of T1 Energy to a “hold” rating in a report on Tuesday, November 25th. iA Financial set a $8.50 target price on shares of T1 Energy in a report on Tuesday, December 9th. Needham & Company LLC restated a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. Finally, Johnson Rice upgraded shares of T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, T1 Energy presently has an average rating of “Moderate Buy” and an average target price of $7.50.

T1 Energy Stock Performance

The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.72 and a current ratio of 1.13. The company has a market cap of $1.55 billion, a PE ratio of -1.93 and a beta of 1.60. The company’s 50 day moving average price is $7.39 and its 200-day moving average price is $4.59.

Institutional Investors Weigh In On T1 Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in T1 Energy during the first quarter worth about $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy in the second quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of T1 Energy during the 2nd quarter valued at approximately $28,000. NBC Securities Inc. bought a new position in T1 Energy in the 4th quarter worth approximately $28,000. Finally, First PREMIER Bank purchased a new position in T1 Energy in the 4th quarter valued at approximately $30,000. 52.31% of the stock is currently 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.