T1 Energy (NYSE:TE) Sets New 1-Year High – Here’s Why

T1 Energy Inc (NYSE:TE) shares hit a new 52-week high on Thursday . The stock traded as high as $9.78 and last traded at $9.49, with a volume of 20182056 shares. The stock had previously closed at $9.12.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TE. BTIG Research boosted their price target on T1 Energy from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded T1 Energy from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Needham & Company LLC reissued a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. Zacks Research raised T1 Energy to a “hold” rating in a research note on Tuesday, November 25th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, T1 Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Stock Performance

The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -2.51 and a beta of 1.56. The stock has a fifty day moving average price of $6.29 and a two-hundred day moving average price of $3.75.

T1 Energy (NYSE:TE) last announced its earnings results on Friday, November 14th. The utilities provider reported ($0.85) earnings per share for the quarter. The firm had revenue of $210.52 million during the quarter. T1 Energy had a negative net margin of 133.07% and a negative return on equity of 121.17%.

Institutional Trading of T1 Energy

Several hedge funds and other institutional investors have recently bought and sold shares of TE. Encompass Capital Advisors LLC purchased a new position in shares of T1 Energy during the 2nd quarter worth $16,560,000. Kim LLC acquired a new position in T1 Energy in the second quarter valued at $8,816,000. Invesco Ltd. purchased a new position in T1 Energy during the second quarter worth about $3,862,000. Geode Capital Management LLC acquired a new stake in T1 Energy in the 2nd quarter worth about $3,296,000. Finally, Franklin Resources Inc. purchased a new stake in T1 Energy in the 2nd quarter valued at about $1,180,000. 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.