T1 Energy (NYSE:TE) Sees Large Volume Increase – Here’s What Happened

Shares of T1 Energy Inc (NYSE:TE) saw unusually-strong trading volume on Wednesday . Approximately 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Zacks Research lowered T1 Energy from a “hold” rating to a “strong sell” rating in a report on Friday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of T1 Energy in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Finally, BTIG Research upped their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

T1 Energy Stock Performance

The firm’s 50 day moving average price is $5.75 and its 200-day moving average price is $5.99. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -4.35 and a beta of 1.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98.

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 the consensus estimate of ($0.21) by $0.13. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The business had revenue of $177.65 million for the quarter. During the same quarter in the previous year, the business posted ($0.11) EPS. On average, analysts anticipate that T1 Energy Inc will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On T1 Energy

Several large investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of T1 Energy during the 1st quarter worth about $26,000. Envestnet Asset Management Inc. acquired a new position in shares of T1 Energy during the second quarter worth approximately $27,000. NBC Securities Inc. bought a new position in T1 Energy in the fourth quarter valued at about $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the 4th quarter worth $30,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in T1 Energy during the 1st quarter worth $44,000. 52.31% of the stock is currently owned by institutional investors.

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.