T1 Energy (NYSE:TE) Price Target Raised to $9.00 at BTIG Research

T1 Energy (NYSE:TE) had its target price raised by analysts at BTIG Research from $8.00 to $9.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. BTIG Research’s target price suggests a potential upside of 77.51% from the company’s current price.

Several other brokerages have also commented on TE. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Needham & Company LLC cut their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Sanford C. Bernstein initiated coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Finally, Northland Securities initiated coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Trading Down 7.3%

TE traded down $0.40 during trading on Wednesday, hitting $5.07. 21,309,626 shares of the stock were exchanged, compared to its average volume of 28,311,123. The firm has a 50 day simple moving average of $7.34 and a 200 day simple moving average of $6.96. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -2.50 and a beta of 2.23. T1 Energy has a 1 year low of $1.20 and a 1 year high of $12.49. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25.

T1 Energy (NYSE:TE) last issued its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $177.65 million during the quarter. During the same quarter in the prior year, the company posted ($0.11) earnings per share. As a group, equities analysts expect that T1 Energy will post -0.2 EPS 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 the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the sale, the insider owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. This trade represents 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 this link. 22.44% of the stock is owned by company insiders.

Institutional Trading of T1 Energy

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in shares of T1 Energy in the 4th quarter worth approximately $69,894,000. Situational Awareness LP purchased a new stake in T1 Energy during the first quarter valued at approximately $43,900,000. Renaissance Technologies LLC boosted its stake in T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares in the last quarter. Kim LLC acquired a new stake in T1 Energy in the second quarter valued at approximately $8,816,000. Finally, Southpoint Capital Advisors LP purchased a new position in T1 Energy in the fourth quarter worth $40,080,000. 52.31% of the stock is owned by hedge funds and other 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.