T1 Energy (NYSE:TE) Stock Price Down 5% on Analyst Downgrade

T1 Energy Inc (NYSE:TE) traded down 5% during trading on Thursday after Needham & Company LLC lowered their price target on the stock from $10.00 to $8.00. Needham & Company LLC currently has a buy rating on the stock. T1 Energy traded as low as $4.16 and last traded at $4.2550. 5,630,605 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 18,576,633 shares. The stock had previously closed at $4.48.

Several other brokerages also recently issued reports on TE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. iA Financial set a $8.50 price objective on shares of T1 Energy in a research report on Tuesday, December 9th. Alliance Global Partners restated a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 30th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, T1 Energy presently has an average rating of “Moderate Buy” and an average price target of $7.83.

Institutional Investors Weigh In On T1 Energy

A number of institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of T1 Energy in the first quarter valued at about $26,000. Envestnet Asset Management Inc. bought a new stake in T1 Energy in the 2nd quarter valued at about $27,000. Geode Capital Management LLC bought a new stake in shares of T1 Energy during the 2nd quarter valued at approximately $3,296,000. Cetera Investment Advisers acquired a new position in T1 Energy during the 2nd quarter worth approximately $162,000. Finally, JPMorgan Chase & Co. bought a new position in T1 Energy in the 2nd quarter valued at approximately $71,000. Institutional investors own 52.31% of the company’s stock.

T1 Energy Price Performance

The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72. The stock has a market cap of $899.39 million, a price-to-earnings ratio of -2.06 and a beta of 1.82. The business’s 50-day simple moving average is $7.16 and its two-hundred day simple moving average is $5.48.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Tuesday, March 31st. The utilities provider reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.90). T1 Energy had a negative net margin of 133.07% and a negative return on equity of 121.17%. The firm had revenue of $358.55 million during the quarter. During the same period last year, the firm earned ($2.59) EPS.

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.