T1 Energy (NYSE:TE) Shares Down 5.8% – Here’s What Happened

T1 Energy Inc (NYSE:TE)’s share price fell 5.8% on Friday . The stock traded as low as $7.93 and last traded at $8.2140. 15,342,403 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 21,029,301 shares. The stock had previously closed at $8.72.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research note on Tuesday, May 12th. BTIG Research increased their target price on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, T1 Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

T1 Energy Trading Down 7.6%

The stock has a market capitalization of $2.25 billion, a PE ratio of -4.00 and a beta of 1.78. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The stock has a 50 day moving average price of $5.80 and a 200-day moving average price of $6.06.

T1 Energy (NYSE:TE) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The company had revenue of $177.65 million for the quarter. During the same period in the prior year, the business posted ($0.11) earnings per share. Sell-side analysts expect that T1 Energy Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors have recently bought and sold shares of TE. Strs Ohio bought a new position in T1 Energy in the 1st quarter worth $26,000. Envestnet Asset Management Inc. bought a new stake in T1 Energy during the second quarter valued at about $27,000. Geode Capital Management LLC bought a new stake in T1 Energy during the second quarter valued at about $3,296,000. Cetera Investment Advisers bought a new stake in T1 Energy during the second quarter valued at about $162,000. Finally, JPMorgan Chase & Co. bought a new stake in T1 Energy during the second quarter valued at about $71,000. 52.31% of the stock is owned by 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.