T1 Energy Inc (NYSE:TE) Stock Has Consensus Target Price of $8.30

T1 Energy Inc (NYSE:TE) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.30.

TE has been the subject of a number of analyst reports. Needham & Company LLC dropped their price objective on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Vertical Research began coverage on shares of T1 Energy in a research note on Thursday, September 17th. They set a “hold” rating and a $5.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. BTIG Research upped their price objective on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds have recently modified their holdings of the business. Sei Investments Co. lifted its position in T1 Energy by 4.6% in the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after buying an additional 1,911 shares during the last quarter. Insight Advisors LLC PA increased its position in shares of T1 Energy by 21.3% during the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 6,500 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of T1 Energy by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock valued at $800,000 after acquiring an additional 6,537 shares during the period. Blackhawk Capital Partners LLC purchased a new stake in shares of T1 Energy in the 1st quarter valued at approximately $44,000. Finally, Jennison Associates LLC raised its stake in shares of T1 Energy by 2.6% in the 1st quarter. Jennison Associates LLC now owns 405,182 shares of the utilities provider’s stock valued at $1,779,000 after acquiring an additional 10,425 shares during the period. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

T1 Energy Stock Performance

Shares of T1 Energy stock opened at $3.73 on Tuesday. The business’s 50 day moving average price is $4.56 and its 200 day moving average price is $6.18. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -1.88 and a beta of 2.36. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. T1 Energy has a one year low of $2.29 and a one year high of $12.49.

T1 Energy (NYSE:TE) last issued its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%.The company had revenue of $250.13 million during the quarter. On average, research analysts predict that T1 Energy will post -0.31 EPS for the current year.

T1 Energy Company Profile

T1 Energy Inc (NYSE: TE) is a U.S.-focused solar energy company developing domestic manufacturing and supply-chain capabilities for the photovoltaic industry. Its business centers on producing solar modules and supporting the deployment of utility-scale and other solar power projects.

The company’s operations are anchored by a solar module manufacturing facility in Texas, which it acquired as part of its transition into the solar industry. T1 Energy is focused on expanding U.S.-based production and serving the North American market as demand grows for domestically manufactured solar equipment.

T1 Energy was formerly known as FREYR Battery, a company established to develop battery-cell manufacturing operations.