T1 Energy (NYSE:TE) Reaches New 12-Month Low – What’s Next?

T1 Energy Inc (NYSE:TE) hit a new 52-week low during trading on Tuesday. The company traded as low as $2.06 and last traded at $2.0550, with a volume of 6,782,054 shares traded. The stock had previously closed at $2.29.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Vertical Research began coverage on T1 Energy in a research report on Thursday, September 17th. They set a “hold” rating and a $5.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of T1 Energy in a research report on Monday, September 14th. They set a “neutral” rating and a $5.00 price objective for the company. Needham & Company LLC cut their price objective on T1 Energy from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. BTIG Research boosted their target price on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Stock Performance

The company has a market cap of $599.37 million, a PE ratio of -1.03 and a beta of 2.48. The stock has a 50 day simple moving average of $3.49 and a two-hundred day simple moving average of $5.94. 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 posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, beating 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 net margin of 38.49% and a negative return on equity of 149.67%. Equities analysts predict that T1 Energy Inc will post -0.32 EPS for the current year.

Institutional Investors Weigh In On T1 Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co acquired a new position in shares of T1 Energy during the 3rd quarter worth approximately $163,000. Russell Investments Group Ltd. increased its position in T1 Energy by 156.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 320,298 shares of the utilities provider’s stock worth $1,236,000 after purchasing an additional 195,428 shares in the last quarter. Alps Advisors Inc. raised its stake in T1 Energy by 6.4% in the 3rd quarter. Alps Advisors Inc. now owns 328,825 shares of the utilities provider’s stock valued at $1,269,000 after purchasing an additional 19,840 shares during the last quarter. CenterBook Partners LP purchased a new position in T1 Energy in the 3rd quarter valued at about $4,526,000. Finally, Integrity Advisory Solutions LLC purchased a new position in shares of T1 Energy during the third quarter valued at approximately $40,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

About T1 Energy

T1 Energy, formerly known as FREYR Battery, is a U.S.-focused solar manufacturing company. After initially pursuing battery production, the company shifted its strategy toward building a domestic solar supply chain. The company is developing solar manufacturing operations in Texas, including facilities intended to produce solar cells and modules. Its products are designed to serve the solar energy market, supporting the deployment of photovoltaic systems. T1 Energy’s strategy centers on expanding U.S.-based solar manufacturing and serving customers seeking domestically produced solar products.