T1 Energy (NYSE:TE) Receives “Buy” Rating from Needham & Company LLC

T1 Energy (NYSE:TE)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $8.00 price target on the utilities provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 40.97% from the stock’s previous close.

Several other analysts also recently weighed in on TE. Zacks Research downgraded T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. BTIG Research increased their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

T1 Energy Stock Down 6.0%

Shares of NYSE:TE traded down $0.37 during trading on Tuesday, hitting $5.68. The stock had a trading volume of 27,526,812 shares, compared to its average volume of 18,365,020. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.58 billion, a PE ratio of -2.75 and a beta of 1.78. The firm’s fifty day moving average is $5.82 and its 200 day moving average is $5.89. T1 Energy has a 12 month low of $0.93 and a 12 month high of $9.78.

T1 Energy (NYSE:TE) last released its earnings results on Tuesday, May 12th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The firm 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 prior year, the company earned ($0.11) earnings per share. Analysts anticipate that T1 Energy will post -0.47 EPS for the current fiscal year.

Institutional Trading of T1 Energy

Several large investors have recently modified their holdings of TE. Strs Ohio purchased a new position in T1 Energy in the first quarter worth about $26,000. Envestnet Asset Management Inc. bought a new position in shares of T1 Energy in the 2nd quarter worth approximately $27,000. Geode Capital Management LLC bought a new position in shares of T1 Energy in the 2nd quarter worth approximately $3,296,000. Cetera Investment Advisers purchased a new position in shares of T1 Energy in the second quarter worth approximately $162,000. Finally, JPMorgan Chase & Co. bought a new stake in T1 Energy during the second quarter valued at approximately $71,000. 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.