T1 Energy (NYSE:TE) Price Target Raised to $8.00 at BTIG Research

T1 Energy (NYSE:TE) had its price target hoisted by stock analysts at BTIG Research from $7.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. BTIG Research’s price objective suggests a potential upside of 39.49% from the stock’s current price.

Several other brokerages have also issued reports on TE. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Needham & Company LLC decreased their price target on shares of T1 Energy from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Finally, Zacks Research lowered shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, T1 Energy has an average rating of “Moderate Buy” and a consensus price target of $8.00.

T1 Energy Trading Down 5.0%

Shares of NYSE:TE traded down $0.31 on Tuesday, hitting $5.74. The company had a trading volume of 26,853,574 shares, compared to its average volume of 18,358,180. The firm’s 50-day simple moving average is $5.82 and its two-hundred day simple moving average is $5.89. T1 Energy has a 1 year low of $0.93 and a 1 year high of $9.78. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -2.78 and a beta of 1.78.

T1 Energy (NYSE:TE) last posted its earnings results on Tuesday, May 12th. The utilities provider reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.13. The firm had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 48.11% and a negative return on equity of 173.39%. During the same period in the prior year, the business posted ($0.11) earnings per share. Equities analysts anticipate that T1 Energy will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of T1 Energy

A number of institutional investors and hedge funds have recently bought and sold shares of TE. Strs Ohio bought a new stake in T1 Energy during the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. bought a new stake in T1 Energy during the 2nd quarter valued at about $27,000. Geode Capital Management LLC bought a new stake in T1 Energy during the 2nd quarter valued at about $3,296,000. Cetera Investment Advisers bought a new stake in T1 Energy during the 2nd quarter valued at about $162,000. Finally, JPMorgan Chase & Co. bought a new stake in T1 Energy during the 2nd quarter valued at about $71,000. 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.