T1 Energy (NYSE:TE) Trading 8.2% Higher – What’s Next?

Shares of T1 Energy Inc (NYSE:TE) traded up 8.2% on Wednesday . The company traded as high as $9.46 and last traded at $9.3340. 12,084,813 shares were traded during trading, a decline of 50% from the average session volume of 24,407,840 shares. The stock had previously closed at $8.63.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Northland Securities assumed coverage on T1 Energy in a report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price on the stock. BTIG Research upped their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded T1 Energy from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.13.

T1 Energy Price Performance

The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The company has a market cap of $2.69 billion, a PE ratio of -4.77 and a beta of 2.14. The firm has a 50 day moving average of $6.96 and a two-hundred day moving average of $6.84.

T1 Energy (NYSE:TE) last posted its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.13. The company had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter in the previous year, the company earned ($0.11) EPS. Research analysts predict that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00. Following the sale, the insider owned 30,652,664 shares in the company, valued at $249,512,684.96. This represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 22.44% of the stock is owned by insiders.

Institutional Trading of T1 Energy

Institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in T1 Energy during the 4th quarter valued at $28,000. First PREMIER Bank purchased a new stake in T1 Energy during the 4th quarter valued at $30,000. Strs Ohio purchased a new stake in T1 Energy during the 4th quarter valued at $32,000. Russell Investments Group Ltd. purchased a new stake in T1 Energy during the 4th quarter valued at $63,000. Finally, Elevatus Welath Management purchased a new stake in T1 Energy during the 4th quarter valued at $67,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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.