T1 Energy (NYSE:TE) Price Target Raised to $8.00 at BTIG Research

T1 Energy (NYSE:TE) had its price objective increased by stock analysts at BTIG Research from $7.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. BTIG Research’s price objective would indicate a potential upside of 39.49% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC dropped their price objective on shares of T1 Energy from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Zacks Research downgraded shares of T1 Energy from a “hold” rating to a “strong sell” rating in a report on Friday, April 3rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, T1 Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

T1 Energy Stock Performance

Shares of TE stock traded down $0.31 during trading hours on Tuesday, reaching $5.74. The company had a trading volume of 26,853,574 shares, compared to its average volume of 18,358,180. The business has a fifty day moving average price of $5.82 and a 200-day moving average price of $5.89. T1 Energy has a one year low of $0.93 and a one year high of $9.78. The firm has a market cap of $1.60 billion, a PE ratio of -2.78 and a beta of 1.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.43.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Tuesday, May 12th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The company had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 48.11% and a negative return on equity of 173.39%. During the same period in the previous year, the business posted ($0.11) EPS. Sell-side analysts predict that T1 Energy will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On T1 Energy

Several hedge funds have recently modified their holdings of TE. Strs Ohio purchased a new position in shares of T1 Energy in the first quarter worth $26,000. Envestnet Asset Management Inc. purchased a new position in shares of T1 Energy in the second quarter worth $27,000. NBC Securities Inc. purchased a new position in shares of T1 Energy in the fourth quarter worth $28,000. First PREMIER Bank purchased a new position in shares of T1 Energy in the fourth quarter worth $30,000. Finally, Blackhawk Capital Partners LLC purchased a new position in shares of T1 Energy in the first quarter worth $44,000. Hedge funds and other 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.