T1 Energy (NYSE:TE) Trading Up 9.8% – Should You Buy?

T1 Energy Inc (NYSE:TE)’s stock price traded up 9.8% during trading on Tuesday . The company traded as high as $9.00 and last traded at $8.94. 4,427,679 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 24,447,809 shares. The stock had previously closed at $8.14.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Alliance Global Partners reiterated a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. Zacks Research upgraded T1 Energy to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Monday, December 29th. Finally, BTIG Research upped their price target on T1 Energy from $3.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Trading Up 11.5%

The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.72 and a current ratio of 1.13. The stock has a market capitalization of $1.93 billion, a PE ratio of -2.40 and a beta of 1.56. The business’s 50-day moving average is $6.05 and its two-hundred day moving average is $3.66.

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

Institutional Trading of T1 Energy

Several hedge funds have recently modified their holdings of TE. Encompass Capital Advisors LLC purchased a new stake in shares of T1 Energy in the second quarter valued at approximately $16,560,000. Kim LLC acquired a new stake in T1 Energy in the second quarter valued at $8,816,000. Invesco Ltd. purchased a new stake in shares of T1 Energy during the 2nd quarter worth $3,862,000. Geode Capital Management LLC acquired a new position in shares of T1 Energy during the 2nd quarter worth $3,296,000. Finally, Franklin Resources Inc. acquired a new position in shares of T1 Energy during the 2nd quarter worth $1,180,000. 52.31% of the stock is owned by institutional investors and hedge funds.

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.