Brokerages Set T1 Energy Inc (NYSE:TE) Price Target at $9.00

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

A number of research firms have commented on TE. Needham & Company LLC lowered their price target on T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. BTIG Research raised their price objective on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, Sanford C. Bernstein started coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company.

T1 Energy Trading Up 6.5%

NYSE TE opened at $5.10 on Monday. The firm’s 50-day moving average is $6.98 and its two-hundred day moving average is $6.90. T1 Energy has a 12 month low of $1.29 and a 12 month high of $12.49. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.98. The stock has a market capitalization of $1.42 billion, a P/E ratio of -2.58 and a beta of 2.23.

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

Insider Transactions at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. The trade was a 24.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 22.44% of the company’s stock.

Institutional Trading of T1 Energy

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after purchasing an additional 8,289,050 shares during the last quarter. Vanguard Group Inc. acquired a new position in shares of T1 Energy during the 4th quarter worth about $69,894,000. Situational Awareness LP purchased a new position in shares of T1 Energy in the 1st quarter valued at about $43,900,000. Kim LLC acquired a new stake in shares of T1 Energy during the 2nd quarter worth about $8,816,000. Finally, Southpoint Capital Advisors LP purchased a new stake in T1 Energy during the fourth quarter worth approximately $40,080,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

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.