T1 Energy (NYSE:TE) Trading 9.3% Higher – Time to Buy?

T1 Energy Inc (NYSE:TE)’s stock price shot up 9.3% during mid-day trading on Monday . The stock traded as high as $6.78 and last traded at $6.73. 8,463,115 shares were traded during mid-day trading, a decline of 61% from the average session volume of 21,618,367 shares. The stock had previously closed at $6.16.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Monday, December 29th. Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. Needham & Company LLC reiterated a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. Roth Mkm reiterated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 23rd. Finally, Johnson Rice raised T1 Energy to a “strong-buy” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, T1 Energy presently has an average rating of “Moderate Buy” and an average target price of $7.50.

T1 Energy Stock Up 10.6%

The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87. The stock has a market cap of $1.45 billion, a PE ratio of -1.80 and a beta of 1.66. The firm has a fifty day moving average of $7.39 and a 200 day moving average of $4.68.

Hedge Funds Weigh In On T1 Energy

Hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new position in T1 Energy in the first quarter valued at $26,000. Envestnet Asset Management Inc. acquired a new position in T1 Energy in the 2nd quarter valued at about $27,000. Police & Firemen s Retirement System of New Jersey acquired a new position in T1 Energy in the 2nd quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in T1 Energy during the 4th quarter valued at approximately $28,000. Finally, First PREMIER Bank acquired a new stake in T1 Energy during the 4th quarter worth approximately $30,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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.