T1 Energy (NYSE:TE) Shares Down 8.7% – Should You Sell?

T1 Energy Inc (NYSE:TE) was down 8.7% on Friday . The company traded as low as $5.83 and last traded at $5.7350. Approximately 4,896,685 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 18,544,314 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

TE has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research note on Monday, December 29th. iA Financial set a $8.50 target price on shares of T1 Energy in a research note on Tuesday, December 9th. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Johnson Rice upgraded shares of T1 Energy to a “strong-buy” rating in a report on Tuesday, December 2nd. Finally, Needham & Company LLC reissued a “buy” rating on shares of T1 Energy in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, T1 Energy has a consensus rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Stock Performance

The firm has a market cap of $1.23 billion, a PE ratio of -1.53 and a beta of 1.66. The stock has a 50-day moving average price of $7.40 and a 200 day moving average price of $5.37. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System purchased a new stake in shares of T1 Energy during the 4th quarter valued at $313,000. Wealthfront Advisers LLC purchased a new position in shares of T1 Energy in the 4th quarter worth $82,000. Robertson Stephens Wealth Management LLC acquired a new position in T1 Energy in the fourth quarter valued at $118,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in T1 Energy in the fourth quarter valued at $662,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in T1 Energy during the fourth quarter valued at about $327,000. Institutional investors and hedge funds 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.