T1 Energy (NYSE:TE) Sees Large Volume Increase After Analyst Upgrade

T1 Energy Inc (NYSE:TE) shares saw strong trading volume on Wednesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. 15,053,371 shares traded hands during trading, a decline of 23% from the previous session’s volume of 19,566,594 shares.The stock last traded at $8.3390 and had previously closed at $6.88.

TE has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. BTIG Research lifted their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in T1 Energy during the first quarter worth about $26,000. Envestnet Asset Management Inc. acquired a new stake in T1 Energy during the second quarter worth about $27,000. NBC Securities Inc. acquired a new stake in T1 Energy during the fourth quarter worth about $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the fourth quarter worth about $30,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in T1 Energy during the first quarter worth about $44,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

T1 Energy Price Performance

The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -4.27 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The business’s 50 day simple moving average is $5.80 and its 200-day simple moving average is $6.06.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The firm had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter in the previous year, the company earned ($0.11) earnings per share. On average, research analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current year.

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.