T1 Energy (NYSE:TE) Shares Gap Up – Time to Buy?

T1 Energy Inc (NYSE:TE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.32, but opened at $4.51. T1 Energy shares last traded at $4.5550, with a volume of 2,298,730 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TE shares. Sanford C. Bernstein began coverage on T1 Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price target on the stock. BTIG Research raised their price target on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Needham & Company LLC reduced their price target on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Northland Securities initiated coverage on T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, T1 Energy presently has a consensus rating of “Moderate Buy” and an average target price of $9.12.

T1 Energy Stock Up 6.8%

The business has a 50-day moving average of $6.50 and a 200 day moving average of $6.71. The company has a market capitalization of $1.36 billion, a PE ratio of -2.33 and a beta of 2.24. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.90.

T1 Energy (NYSE:TE) last issued its quarterly earnings data 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%. Equities research analysts predict that T1 Energy Inc will post -0.31 earnings per share for the current year.

Institutional Trading of T1 Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in T1 Energy during the first quarter worth $26,000. Envestnet Asset Management Inc. acquired a new stake in T1 Energy in the second quarter worth about $27,000. NBC Securities Inc. purchased a new stake in T1 Energy during the 4th quarter worth approximately $28,000. Blackhawk Capital Partners LLC purchased a new stake in shares of T1 Energy during the first quarter valued at $44,000. Finally, SteelPeak Wealth LLC purchased a new stake in T1 Energy during the 1st quarter valued at about $46,000. 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.