T1 Energy (NYSE:TE) Sets New 52-Week High – Should You Buy?

T1 Energy Inc (NYSE:TE)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $9.78 and last traded at $9.49, with a volume of 20182056 shares. The stock had previously closed at $9.12.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TE. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating on shares of T1 Energy in a report on Thursday, December 11th. Industrial Alliance Securities set a $8.50 target price on shares of T1 Energy in a research note on Tuesday, December 9th. Roth Mkm reiterated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 23rd. Finally, Johnson Rice raised shares of T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Price Performance

The firm has a 50-day moving average of $6.52 and a 200-day moving average of $3.84. The stock has a market cap of $1.77 billion, a PE ratio of -2.20 and a beta of 1.56. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72.

T1 Energy (NYSE:TE) last posted its quarterly earnings results on Friday, November 14th. The utilities provider reported ($0.85) earnings per share for the quarter. T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.The business had revenue of $210.52 million during the quarter.

Institutional Trading of T1 Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC purchased a new stake in T1 Energy in the 4th quarter worth $2,637,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of T1 Energy in the fourth quarter worth about $107,000. Wealthfront Advisers LLC purchased a new stake in shares of T1 Energy in the fourth quarter worth about $82,000. Kestra Private Wealth Services LLC bought a new position in T1 Energy during the fourth quarter valued at approximately $175,000. Finally, Pictet Asset Management Holding SA purchased a new position in T1 Energy during the 4th quarter valued at approximately $230,000. 52.31% of the stock is currently owned by institutional investors.

About T1 Energy

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.