T1 Energy Inc (NYSE:TE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of T1 Energy Inc (NYSE:TE) have received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.60.

Several research analysts have recently issued reports on the stock. Needham & Company LLC dropped 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 note on Tuesday, July 28th. JPMorgan Chase & Co. began coverage on shares of T1 Energy in a research report on Monday, September 14th. They set a “neutral” rating and a $5.00 price target for the company. Sanford C. Bernstein began coverage on T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 target price on the stock. Weiss Ratings downgraded shares of T1 Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. Finally, Northland Securities set a $9.00 price target on shares of T1 Energy in a report on Monday.

T1 Energy Price Performance

Shares of TE opened at $3.71 on Tuesday. 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 firm’s 50-day simple moving average is $4.51 and its two-hundred day simple moving average is $6.13. T1 Energy has a fifty-two week low of $2.47 and a fifty-two week high of $12.49. The stock has a market cap of $1.09 billion, a PE ratio of -1.87 and a beta of 2.36.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $250.13 million during the quarter. Analysts anticipate that T1 Energy will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. lifted its holdings in shares of T1 Energy by 4.6% in the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after buying an additional 1,911 shares in the last quarter. Insight Advisors LLC PA grew its stake in T1 Energy by 21.3% during the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 6,500 shares in the last quarter. Cetera Investment Advisers grew its stake in T1 Energy by 3.7% during the first quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock valued at $800,000 after acquiring an additional 6,537 shares in the last quarter. Blackhawk Capital Partners LLC bought a new stake in T1 Energy in the 1st quarter valued at $44,000. Finally, Jennison Associates LLC increased its holdings in T1 Energy by 2.6% in the 1st quarter. Jennison Associates LLC now owns 405,182 shares of the utilities provider’s stock valued at $1,779,000 after acquiring an additional 10,425 shares during the last quarter. Hedge funds and other institutional investors own 52.31% of the company’s stock.

About T1 Energy

T1 Energy Inc (NYSE:TE) is a U.S.-focused renewable energy company developing domestic solar manufacturing and related clean-energy infrastructure. The company’s activities center on producing solar photovoltaic components, including solar cells and modules, for the North American market.

T1 Energy is developing its Project Jupiter solar manufacturing platform in Texas, which is intended to support the production of solar products within the United States. The company’s strategy emphasizes strengthening the domestic solar supply chain and serving utility-scale, commercial, and other solar-energy applications.

The company was formerly known as FREYR Battery and previously pursued lithium-ion battery manufacturing projects.