T1 Energy (NYSE:TE) Sets New 52-Week High – Time to Buy?

T1 Energy Inc (NYSE:TE) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.80 and last traded at $10.49, with a volume of 71847538 shares trading hands. The stock had previously closed at $8.08.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TE. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. BTIG Research lifted their price objective on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

T1 Energy Stock Up 29.8%

The business has a 50-day simple moving average of $5.86 and a two-hundred day simple moving average of $6.17. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -5.17 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.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The company had revenue of $177.65 million during the quarter. During the same period in the prior year, the firm earned ($0.11) EPS. As a group, equities analysts forecast that T1 Energy Inc will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.70% of the stock is owned by corporate insiders.

Institutional Trading of T1 Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new position in shares of T1 Energy in the fourth quarter worth about $69,894,000. Situational Awareness LP bought a new position in shares of T1 Energy in the first quarter worth about $43,900,000. Renaissance Technologies LLC increased its stake in shares of T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after purchasing an additional 8,289,050 shares during the period. Kim LLC bought a new position in shares of T1 Energy in the second quarter worth about $8,816,000. Finally, Southpoint Capital Advisors LP bought a new position in shares of T1 Energy in the fourth quarter worth about $40,080,000. 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.