T1 Energy (NYSE:TE) Price Target Raised to $9.00

T1 Energy (NYSE:TE) had its price objective increased by BTIG Research from $8.00 to $9.00 in a research report report published on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on the stock. Northland Securities started coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Sanford C. Bernstein initiated coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.12.

T1 Energy Trading Up 6.5%

Shares of TE opened at $5.10 on Wednesday. The firm’s 50 day simple moving average is $6.98 and its 200 day simple moving average is $6.90. The company has a market capitalization of $1.42 billion, a P/E ratio of -2.58 and a beta of 2.23. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.98. T1 Energy has a 1-year low of $1.29 and a 1-year high of $12.49.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $250.13 million during the quarter. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. Sell-side analysts forecast that T1 Energy will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On T1 Energy

Several large investors have recently bought and sold shares of the business. Sei Investments Co. lifted its position in T1 Energy by 4.6% during the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after purchasing an additional 1,911 shares during the period. NBC Securities Inc. bought a new stake in T1 Energy in the 4th quarter worth approximately $28,000. Strs Ohio purchased a new stake in T1 Energy during the 4th quarter valued at $32,000. Insight Advisors LLC PA raised its stake in T1 Energy by 21.3% during the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after buying an additional 6,500 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in T1 Energy by 3.7% during the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock valued at $800,000 after buying an additional 6,537 shares during the last quarter. 52.31% of the stock is currently owned by 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.