T1 Energy (NYSE:TE) Shares Gap Down – What’s Next?

Shares of T1 Energy Inc (NYSE:TE) gapped down before the market opened on Friday . The stock had previously closed at $7.29, but opened at $6.80. T1 Energy shares last traded at $6.16, with a volume of 7,547,622 shares.

Analyst Ratings Changes

TE has been the subject of several recent research reports. Johnson Rice upgraded shares of T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. Zacks Research upgraded T1 Energy to a “hold” rating in a research report on Tuesday, November 25th. iA Financial set a $8.50 price objective on T1 Energy in a report on Tuesday, December 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 30th. Finally, Roth Mkm reiterated a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Trading Down 18.8%

The company has a 50 day moving average of $7.39 and a 200 day moving average of $4.59. The firm has a market cap of $1.26 billion, a P/E ratio of -1.57 and a beta of 1.60. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.72 and a current ratio of 1.13.

Institutional Investors Weigh In On T1 Energy

Several large investors have recently modified their holdings of the stock. Invesco Ltd. acquired a new stake in T1 Energy during the 4th quarter valued at $17,405,000. Creek Drive Management Group LLC bought a new stake in shares of T1 Energy during the fourth quarter worth $788,000. Empowered Funds LLC bought a new stake in shares of T1 Energy during the fourth quarter worth $3,830,000. XTX Topco Ltd acquired a new stake in shares of T1 Energy in the fourth quarter valued at $411,000. Finally, nVerses Capital LLC bought a new position in shares of T1 Energy in the fourth quarter valued at about $81,000. 52.31% of the stock is currently owned by institutional investors.

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.