T1 Energy (NYSE:TE) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of T1 Energy (NYSE:TE) in a research report sent to investors on Monday, Marketbeat reports. The firm issued a neutral rating and a $5.00 target price on the utilities provider’s stock.

Other research analysts also recently issued research reports about the stock. Northland Securities started coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price objective for the company. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. BTIG Research boosted their target price on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Finally, Needham & Company LLC cut their price target on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, T1 Energy currently has an average rating of “Moderate Buy” and an average target price of $8.67.

T1 Energy Trading Down 4.8%

Shares of TE opened at $4.09 on Monday. The stock has a fifty day moving average of $5.08 and a two-hundred day moving average of $6.43. 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 company has a market capitalization of $1.21 billion, a PE ratio of -2.07 and a beta of 2.25. T1 Energy has a fifty-two week low of $1.74 and a fifty-two week high of $12.49.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The company 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, analysts forecast that T1 Energy will post -0.31 EPS for the current year.

Institutional Trading of T1 Energy

Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. grew its stake in shares of 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 in the last quarter. Insight Advisors LLC PA lifted its position in T1 Energy by 21.3% during the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock worth $162,000 after acquiring an additional 6,500 shares in the last quarter. Cetera Investment Advisers boosted its holdings in T1 Energy by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock worth $800,000 after acquiring an additional 6,537 shares during the period. Blackhawk Capital Partners LLC purchased a new position in T1 Energy in the 1st quarter worth approximately $44,000. Finally, Jennison Associates LLC grew its position in T1 Energy by 2.6% in the first 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 in the last quarter. 52.31% of the stock is owned by hedge funds and other institutional investors.

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.