T1 Energy (NYSE:TE) Shares Climb 11.1% – Still a Buy?

Shares of T1 Energy Inc (NYSE:TE) shot up 11.1% during trading on Tuesday. The company traded as high as $2.87 and last traded at $2.8450. 6,785,981 shares traded hands during trading, a decline of 74% from the average session volume of 25,812,867 shares. The stock had previously closed at $2.56.

Analyst Ratings Changes

A number of equities research analysts have commented on TE shares. Needham & Company LLC reduced their price target on T1 Energy from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Vertical Research initiated coverage on shares of T1 Energy in a research report on Thursday, September 17th. They set a “hold” rating and a $5.00 price objective on the stock. Weiss Ratings upgraded shares of T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Wall Street Zen cut T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of T1 Energy in a research note on Monday, September 14th. They issued a “neutral” rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Price Performance

The firm has a market capitalization of $849.71 million, a PE ratio of -1.46 and a beta of 2.36. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The business’s 50 day moving average is $3.71 and its two-hundred day moving average is $6.08.

T1 Energy (NYSE:TE) last issued its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. The business had revenue of $250.13 million for the quarter. Equities research analysts anticipate that T1 Energy Inc will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of T1 Energy

Several institutional investors and hedge funds have recently bought and sold shares of TE. Sterling Capital Management LLC lifted its position in T1 Energy by 993.0% during the third quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 6,256 shares during the last quarter. Blackhawk Capital Partners LLC purchased a new stake in shares of T1 Energy during the 1st quarter valued at $44,000. SteelPeak Wealth LLC purchased a new stake in shares of T1 Energy during the 1st quarter valued at $46,000. Integrity Advisory Solutions LLC bought a new stake in shares of T1 Energy during the 3rd quarter worth $40,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of T1 Energy during the 3rd quarter worth $46,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

T1 Energy Company Profile

T1 Energy Inc is a U.S.-focused solar technology and manufacturing company working to develop a domestic solar supply chain. The company’s activities include the production and commercialization of solar photovoltaic modules, as well as the development of solar cell and related manufacturing capabilities.

T1 Energy operates through its G1 manufacturing facility in Texas and is developing additional solar manufacturing and energy infrastructure projects. Its products and services are intended to support utility-scale, commercial and residential solar installations in the United States.

The company was formerly known as FREYR Battery, a business established to develop lithium-ion battery manufacturing capacity.