T1 Energy (NYSE:TE) Stock Falls 10.1% – Here’s Why

Shares of T1 Energy Inc (NYSE:TE) fell 10.1% during mid-day trading on Friday. The stock traded as low as $2.65 and last traded at $2.6350. Approximately 8,905,491 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 26,347,904 shares. The stock had previously closed at $2.93.

Analysts Set New Price Targets

A number of research firms have commented on TE. Vertical Research initiated coverage on T1 Energy in a report on Thursday, September 17th. They issued a “hold” rating and a $5.00 target price for the company. Needham & Company LLC dropped their price objective on T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Wall Street Zen downgraded T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. BTIG Research lifted their price objective on T1 Energy from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. started coverage on T1 Energy in a research report on Monday, September 14th. They issued a “neutral” rating and a $5.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.60.

T1 Energy Stock Performance

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 cap of $774.61 million, a P/E ratio of -1.33 and a beta of 2.36. The business’s 50-day simple moving average is $4.29 and its 200 day simple moving average is $5.94.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The firm had revenue of $250.13 million for the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. As a group, equities analysts predict that T1 Energy Inc will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TE. SLT Holdings LLC purchased a new stake in shares of T1 Energy during the 3rd quarter valued at about $237,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of T1 Energy in the third quarter worth approximately $46,000. Green Alpha Advisors LLC boosted its holdings in shares of T1 Energy by 3.6% in the third quarter. Green Alpha Advisors LLC now owns 248,075 shares of the utilities provider’s stock worth $958,000 after buying an additional 8,665 shares during the last quarter. Apella Capital LLC boosted its holdings in shares of T1 Energy by 68.1% in the third quarter. Apella Capital LLC now owns 55,523 shares of the utilities provider’s stock worth $207,000 after buying an additional 22,500 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its position in T1 Energy by 112.1% during the third quarter. Venture Visionary Partners LLC now owns 248,309 shares of the utilities provider’s stock valued at $958,000 after buying an additional 131,213 shares during the period. Institutional investors own 52.31% of the company’s stock.

About T1 Energy

T1 Energy Inc (NYSE:TE) is a U.S.-focused renewable energy company developing domestic solar manufacturing and related clean-energy infrastructure. The company’s activities center on producing solar photovoltaic components, including solar cells and modules, for the North American market.

T1 Energy is developing its Project Jupiter solar manufacturing platform in Texas, which is intended to support the production of solar products within the United States. The company’s strategy emphasizes strengthening the domestic solar supply chain and serving utility-scale, commercial, and other solar-energy applications.

The company was formerly known as FREYR Battery and previously pursued lithium-ion battery manufacturing projects.