T1 Energy (NYSE:TE) Shares Down 6.3% – What’s Next?

T1 Energy Inc (NYSE:TE) traded down 6.3% during mid-day trading on Monday . The company traded as low as $4.55 and last traded at $4.4880. 3,424,517 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 27,790,117 shares. The stock had previously closed at $4.79.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TE shares. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Needham & Company LLC lowered their target price on T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Northland Securities began coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price for the company. Wall Street Zen lowered shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Finally, BTIG Research boosted their price target on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. One equities 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.12.

T1 Energy Trading Down 7.1%

The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The company’s 50-day moving average price is $6.15 and its 200-day moving average price is $6.62. The firm has a market capitalization of $1.31 billion, a PE ratio of -2.25 and a beta of 2.24.

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

Institutional Investors Weigh In On T1 Energy

A number of institutional investors and hedge funds have recently made changes to their positions in TE. Sei Investments Co. raised its holdings in T1 Energy by 4.6% during the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,911 shares during the last quarter. Strs Ohio acquired a new stake in T1 Energy in the fourth quarter valued at $32,000. Insight Advisors LLC PA increased its position in shares of T1 Energy by 21.3% in the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after buying an additional 6,500 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of T1 Energy by 3.7% during the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock worth $800,000 after buying an additional 6,537 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of T1 Energy during the 4th quarter worth $63,000. 52.31% of the stock is owned by hedge funds and other 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.