T1 Energy Inc (NYSE:TE) Receives $9.12 Average Price Target from Analysts

Shares of T1 Energy Inc (NYSE:TE) have received an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.1250.

Several analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 target price for the company. Needham & Company LLC decreased their target price on T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Northland Securities started coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. BTIG Research increased their price target on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd.

Institutional Inflows and Outflows

Several 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 in the 4th quarter valued at about $69,894,000. Situational Awareness LP purchased a new stake in shares of T1 Energy during the 1st quarter worth $43,900,000. Renaissance Technologies LLC grew its stake in shares of T1 Energy by 232.2% during the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after purchasing 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 $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new position in shares of T1 Energy during the 4th quarter worth about $40,080,000. 52.31% of the stock is owned by institutional investors and hedge funds.

T1 Energy Stock Performance

NYSE TE opened at $4.61 on Friday. The stock has a market cap of $1.36 billion, a PE ratio of -2.33 and a beta of 2.25. The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50. T1 Energy has a twelve month low of $1.70 and a twelve month high of $12.49. The stock has a fifty day simple moving average of $5.36 and a 200-day simple moving average of $6.50.

T1 Energy (NYSE:TE) last announced 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 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. Equities analysts anticipate that T1 Energy will post -0.31 earnings per share for the current year.

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.