T1 Energy (NYSE:TE) Announces Quarterly Earnings Results

T1 Energy (NYSE:TE) posted its earnings results on Tuesday. The utilities provider reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.90), FiscalAI reports. T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.The company had revenue of $358.55 million during the quarter. During the same period in the prior year, the business earned ($2.59) earnings per share.

T1 Energy Stock Up 2.2%

Shares of NYSE TE opened at $4.49 on Thursday. The company has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $5.48. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72. T1 Energy has a 1 year low of $0.92 and a 1 year high of $9.78. The firm has a market cap of $952.48 million, a PE ratio of -2.18 and a beta of 1.82.

Wall Street Analyst Weigh In

TE has been the subject of a number of research analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. iA Financial set a $8.50 target price on shares of T1 Energy in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Roth Mkm reiterated a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of T1 Energy in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Hedge Funds Weigh In On T1 Energy

Several large investors have recently modified their holdings of the business. NBC Securities Inc. bought a new stake in shares of T1 Energy in the fourth quarter worth $28,000. First PREMIER Bank acquired a new position in T1 Energy during the 4th quarter worth about $30,000. Strs Ohio acquired a new position in T1 Energy during the 4th quarter worth about $32,000. Russell Investments Group Ltd. bought a new stake in shares of T1 Energy in the 4th quarter valued at about $63,000. Finally, Elevatus Welath Management acquired a new stake in shares of T1 Energy in the fourth quarter valued at about $67,000. Institutional investors own 52.31% of the company’s stock.

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.