T1 Energy (NYSE:TE) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of T1 Energy (NYSE:TE) from a sell rating to a strong sell rating in a report issued on Saturday morning.

TE has been the topic of several other reports. BTIG Research raised their price objective on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Sanford C. Bernstein initiated coverage on T1 Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Northland Securities started coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Stock Down 1.7%

TE stock opened at $4.34 on Friday. The business’s 50-day moving average price is $6.50 and its 200-day moving average price is $6.71. The stock has a market cap of $1.28 billion, a P/E ratio of -2.19 and a beta of 2.24. The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 3.50. T1 Energy has a twelve month low of $1.54 and a twelve month high of $12.49.

T1 Energy (NYSE:TE) last released its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. The company had revenue of $250.13 million during the quarter. On average, equities research analysts forecast that T1 Energy will post -0.31 EPS for the current year.

Institutional Trading of T1 Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new position in shares of T1 Energy during the fourth quarter valued at about $69,894,000. Situational Awareness LP purchased a new stake in shares of T1 Energy in the first quarter worth about $43,900,000. Renaissance Technologies LLC lifted its position in shares of T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after buying an additional 8,289,050 shares in the last quarter. Kim LLC bought a new position in T1 Energy during the second quarter valued at approximately $8,816,000. Finally, Southpoint Capital Advisors LP bought a new position in T1 Energy during the fourth quarter valued at approximately $40,080,000. 52.31% of the stock is currently owned by institutional investors.

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.