T1 Energy (NYSE:TE) Shares Gap Up – Here’s What Happened

T1 Energy Inc (NYSE:TE)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.67, but opened at $6.70. T1 Energy shares last traded at $6.8810, with a volume of 25,199,049 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. BTIG Research upped their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research cut shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.00.

T1 Energy Price Performance

The stock has a market cap of $1.88 billion, a P/E ratio of -3.31 and a beta of 1.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The business’s fifty day moving average price is $5.75 and its 200 day moving average price is $5.94.

T1 Energy (NYSE:TE) last posted its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The firm had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period last year, the company posted ($0.11) EPS. Sell-side analysts forecast that T1 Energy Inc will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of T1 Energy in the first quarter valued at approximately $26,000. Envestnet Asset Management Inc. acquired a new stake in T1 Energy during the 2nd quarter valued at approximately $27,000. NBC Securities Inc. acquired a new stake in T1 Energy during the 4th quarter valued at approximately $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the 4th quarter valued at approximately $30,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in T1 Energy during the 1st quarter valued at approximately $44,000. Institutional investors own 52.31% of the company’s stock.

T1 Energy Company Profile

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.