T1 Energy Inc (NYSE:TE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of T1 Energy Inc (NYSE:TE) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $9.1250.

A number of research firms have issued reports on TE. BTIG Research increased their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Northland Securities assumed coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. This represents a 24.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in T1 Energy in the first quarter worth approximately $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy during the second quarter valued at approximately $27,000. NBC Securities Inc. bought a new stake in shares of T1 Energy during the fourth quarter valued at approximately $28,000. First PREMIER Bank acquired a new position in shares of T1 Energy during the fourth quarter worth approximately $30,000. Finally, Blackhawk Capital Partners LLC acquired a new position in shares of T1 Energy during the first quarter worth approximately $44,000. 52.31% of the stock is owned by institutional investors and hedge funds.

T1 Energy Stock Performance

TE stock opened at $6.65 on Thursday. The stock has a 50-day moving average price of $8.39 and a 200-day moving average price of $7.24. T1 Energy has a 1-year low of $1.15 and a 1-year high of $12.49. 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 firm has a market cap of $1.86 billion, a PE ratio of -3.28 and a beta of 2.16.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The company had revenue of $177.65 million for the quarter. During the same period in the prior year, the firm earned ($0.11) earnings per share. As a group, equities research analysts expect that T1 Energy will post -0.2 earnings per share for the current year.

About T1 Energy

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.