T1 Energy (NYSE:TE) Trading 9.4% Higher – Should You Buy?

Shares of T1 Energy Inc (NYSE:TE) shot up 9.4% during trading on Thursday . The stock traded as high as $5.05 and last traded at $4.9340. 5,969,694 shares were traded during mid-day trading, a decline of 79% from the average session volume of 27,806,432 shares. The stock had previously closed at $4.51.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. BTIG Research boosted their price target on shares of T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Northland Securities began coverage on T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price objective for the company. Finally, Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.12.

T1 Energy Stock Up 7.9%

The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The firm has a market capitalization of $1.43 billion, a PE ratio of -2.45 and a beta of 2.23. The company has a fifty day moving average price of $6.33 and a 200-day moving average price of $6.67.

T1 Energy (NYSE:TE) last posted its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. The firm had revenue of $250.13 million during the quarter. As a group, analysts expect that T1 Energy Inc will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of T1 Energy during the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. purchased a new position in T1 Energy in the second quarter worth about $27,000. NBC Securities Inc. bought a new stake in T1 Energy during the fourth quarter worth approximately $28,000. Blackhawk Capital Partners LLC bought a new stake in T1 Energy during the first quarter worth approximately $44,000. Finally, SteelPeak Wealth LLC purchased a new stake in T1 Energy during the first quarter valued at approximately $46,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

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.