T1 Energy (NYSE:TE) Stock Price Up 7.8% – Should You Buy?

T1 Energy Inc (NYSE:TE)’s share price shot up 7.8% on Tuesday . The stock traded as high as $6.65 and last traded at $6.60. 14,878,882 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 23,131,260 shares. The stock had previously closed at $6.12.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BTIG Research increased their price objective on T1 Energy from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Zacks Research upgraded shares of T1 Energy to a “hold” rating in a research note on Tuesday, November 25th. iA Financial set a $8.50 price target on shares of T1 Energy in a report on Tuesday, December 9th. Wall Street Zen cut T1 Energy from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Finally, Roth Mkm restated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 23rd. One equities 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 given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

T1 Energy Stock Down 2.2%

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 firm has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $4.40. The company has a market capitalization of $1.34 billion, a P/E ratio of -1.67 and a beta of 1.60.

Institutional Trading of T1 Energy

Several institutional investors and hedge funds have recently bought and sold shares of TE. Strs Ohio acquired a new position in shares of T1 Energy in the first quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of T1 Energy during the second quarter worth $59,000. Freedom Investment Management Inc. bought a new stake in shares of T1 Energy during the 2nd quarter valued at about $25,000. FSM Wealth Advisors LLC bought a new position in T1 Energy during the second quarter worth $25,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of T1 Energy in the 2nd quarter valued at about $31,000. Institutional investors own 52.31% of the company’s stock.

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.