T1 Energy (NYSE:TE) Trading Down 7.6% – Time to Sell?

T1 Energy Inc (NYSE:TE)’s stock price dropped 7.6% during mid-day trading on Friday . The stock traded as low as $7.15 and last traded at $7.1220. Approximately 4,512,717 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 19,171,570 shares. The stock had previously closed at $7.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TE shares. iA Financial set a $8.50 price target on T1 Energy in a research report on Tuesday, December 9th. Johnson Rice upgraded T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a report on Tuesday, December 30th. Needham & Company LLC reiterated a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Performance

The company has a fifty day moving average of $7.47 and a two-hundred day moving average of $5.20. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -1.73 and a beta of 1.66. 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 Trading of T1 Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC bought a new position in shares of T1 Energy during the second quarter worth approximately $16,560,000. Vanguard Group Inc. bought a new stake in shares of T1 Energy during the 4th quarter valued at $69,894,000. Kim LLC acquired a new stake in shares of T1 Energy during the 2nd quarter worth $8,816,000. Southpoint Capital Advisors LP bought a new position in shares of T1 Energy in the fourth quarter worth $40,080,000. Finally, State Street Corp acquired a new position in T1 Energy in the fourth quarter valued at about $34,386,000. Institutional investors and hedge funds 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.