T1 Energy (NYSE:TE) Coverage Initiated at Vertical Research

Research analysts at Vertical Research started coverage on shares of T1 Energy (NYSE:TE) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a “hold” rating and a $5.00 price target on the utilities provider’s stock. Vertical Research’s target price would suggest a potential upside of 22.10% from the company’s current price.

Several other brokerages have also recently issued reports on TE. JPMorgan Chase & Co. started coverage on shares of T1 Energy in a report on Monday. They issued a “neutral” rating and a $5.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. Wall Street Zen lowered T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Northland Securities initiated coverage on shares of T1 Energy in a research note 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, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, T1 Energy currently has an average rating of “Moderate Buy” and a consensus price target of $8.30.

T1 Energy Price Performance

TE stock opened at $4.09 on Thursday. 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 has a 50 day moving average price of $5.08 and a 200-day moving average price of $6.43. T1 Energy has a 52-week low of $1.74 and a 52-week high of $12.49. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.07 and a beta of 2.25.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) 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 business had revenue of $250.13 million during the quarter. Equities research analysts forecast that T1 Energy will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after acquiring an additional 8,289,050 shares during the last quarter. Situational Awareness LP purchased a new stake in shares of T1 Energy in the 1st quarter worth $43,900,000. Electron Capital Partners LLC raised its holdings in T1 Energy by 69.4% in the 1st quarter. Electron Capital Partners LLC now owns 5,929,585 shares of the utilities provider’s stock worth $26,031,000 after purchasing an additional 2,429,564 shares during the period. BNP Paribas Financial Markets bought a new position in T1 Energy in the 4th quarter worth $9,752,000. Finally, Squarepoint Ops LLC lifted its position in T1 Energy by 35.2% during the second quarter. Squarepoint Ops LLC now owns 1,429,027 shares of the utilities provider’s stock valued at $13,547,000 after purchasing an additional 371,874 shares in the last quarter. 52.31% of the stock is owned by hedge funds and other institutional investors.

About T1 Energy

T1 Energy Inc (NYSE: TE) is a U.S.-focused solar energy company developing domestic manufacturing and supply-chain capabilities for the photovoltaic industry. Its business centers on producing solar modules and supporting the deployment of utility-scale and other solar power projects.

The company’s operations are anchored by a solar module manufacturing facility in Texas, which it acquired as part of its transition into the solar industry. T1 Energy is focused on expanding U.S.-based production and serving the North American market as demand grows for domestically manufactured solar equipment.

T1 Energy was formerly known as FREYR Battery, a company established to develop battery-cell manufacturing operations.