T1 Energy (NYSE:TE) Trading 9.3% Higher – Time to Buy?

Shares of T1 Energy Inc (NYSE:TE) traded up 9.3% on Monday . The company traded as high as $6.78 and last traded at $6.73. 8,463,115 shares were traded during mid-day trading, a decline of 61% from the average session volume of 21,618,367 shares. The stock had previously closed at $6.16.

Analysts Set New Price Targets

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

T1 Energy Stock Up 10.6%

The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87. The business has a 50-day simple moving average of $7.39 and a 200-day simple moving average of $4.68. The company has a market cap of $1.45 billion, a PE ratio of -1.80 and a beta of 1.66.

Institutional Trading of T1 Energy

A number of institutional investors and hedge funds have recently modified their holdings of TE. Strs Ohio acquired a new stake in shares of T1 Energy in the first quarter valued at about $26,000. Envestnet Asset Management Inc. purchased a new position in T1 Energy in the 2nd quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of T1 Energy during the 2nd quarter worth approximately $265,000. ProShare Advisors LLC purchased a new stake in shares of T1 Energy in the second quarter valued at approximately $63,000. Finally, Geode Capital Management LLC acquired a new stake in shares of T1 Energy in the second quarter valued at approximately $3,296,000. 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.