T1 Energy (NYSE:TE) Shares Down 8.7% – Here’s What Happened

T1 Energy Inc (NYSE:TE) dropped 8.7% during trading on Friday . The company traded as low as $5.83 and last traded at $5.7350. Approximately 4,896,685 shares were traded during trading, a decline of 74% from the average daily volume of 18,544,314 shares. The stock had previously closed at $6.28.

Analyst Ratings Changes

A number of research analysts recently weighed in on TE shares. Roth Mkm reissued a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating on shares of T1 Energy in a research 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 issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Price Performance

The company has a market capitalization of $1.22 billion, a P/E ratio of -1.52 and a beta of 1.66. The stock’s fifty day simple moving average is $7.37 and its 200-day simple moving average is $5.42. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72.

Institutional Trading of T1 Energy

Hedge funds have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in T1 Energy in the 1st quarter worth approximately $26,000. Envestnet Asset Management Inc. acquired a new position in shares of T1 Energy during the second quarter worth approximately $27,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of T1 Energy in the second quarter valued at approximately $28,000. NBC Securities Inc. bought a new stake in shares of T1 Energy in the fourth quarter valued at approximately $28,000. Finally, First PREMIER Bank acquired a new stake in shares of T1 Energy in the fourth quarter worth $30,000. 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.