T1 Energy (NYSE:TE) Upgraded at Sanford C. Bernstein

T1 Energy (NYSE:TE) was upgraded by investment analysts at Sanford C. Bernstein to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on TE. BTIG Research boosted 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. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Northland Securities assumed coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.13.

T1 Energy Stock Performance

Shares of TE opened at $9.09 on Tuesday. T1 Energy has a 1 year low of $1.15 and a 1 year high of $12.49. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -4.48 and a beta of 2.14. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a fifty day moving average of $7.06 and a 200-day moving average of $6.87.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating 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 company had revenue of $177.65 million during the quarter. During the same period last year, the firm posted ($0.11) EPS. As a group, equities analysts anticipate that T1 Energy will post -0.2 earnings per share for the current year.

Insider Buying and Selling at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the sale, the insider directly owned 30,652,664 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T1 Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. bought a new stake in shares of T1 Energy during the fourth quarter valued at about $28,000. First PREMIER Bank bought a new stake in shares of T1 Energy during the fourth quarter valued at about $30,000. Strs Ohio bought a new stake in shares of T1 Energy during the fourth quarter valued at about $32,000. Russell Investments Group Ltd. bought a new stake in shares of T1 Energy during the fourth quarter valued at about $63,000. Finally, Elevatus Welath Management bought a new stake in shares of T1 Energy during the fourth quarter valued at about $67,000. 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.