T1 Energy (NYSE:TE) Shares Down 10.5% – Here’s What Happened

T1 Energy Inc (NYSE:TE)’s stock price traded down 10.5% on Tuesday . The stock traded as low as $9.23 and last traded at $9.31. 25,362,715 shares traded hands during trading, an increase of 0% from the average daily volume of 25,280,578 shares. The stock had previously closed at $10.40.

Analysts Set New Price Targets

Several analysts recently issued reports on TE shares. Sanford C. Bernstein started coverage on T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a research note on Tuesday, May 12th. Northland Securities assumed coverage on T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. BTIG Research upped their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.12.

T1 Energy Stock Performance

The firm has a market capitalization of $2.60 billion, a PE ratio of -4.59 and a beta of 2.13. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a 50-day moving average price of $7.40 and a 200-day moving average price of $6.99.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.13. The business had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter last year, the firm posted ($0.11) EPS. On average, research analysts expect that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.44% of the stock is currently owned by insiders.

Institutional Trading of T1 Energy

Several institutional investors have recently added to or reduced their stakes in TE. NBC Securities Inc. acquired a new stake in shares of T1 Energy in the 4th quarter valued at about $28,000. First PREMIER Bank bought a new position in T1 Energy during the 4th quarter worth approximately $30,000. Strs Ohio bought a new position in T1 Energy during the 4th quarter worth approximately $32,000. Russell Investments Group Ltd. acquired a new position in shares of T1 Energy in the 4th quarter worth approximately $63,000. Finally, Elevatus Welath Management bought a new stake in shares of T1 Energy in the 4th quarter valued at approximately $67,000. 52.31% of the stock is owned by institutional investors and hedge funds.

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.