T1 Energy (NYSE:TE) Shares Down 8.7% – Should You Sell?

T1 Energy Inc (NYSE:TE)’s share price dropped 8.7% during trading on Friday . The company traded as low as $5.83 and last traded at $5.7350. Approximately 4,896,685 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 18,544,314 shares. The stock had previously closed at $6.28.

Analyst Ratings Changes

Several equities research analysts have issued reports on TE shares. Johnson Rice upgraded shares of T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. Roth Mkm restated a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. Alliance Global Partners reiterated a “buy” rating on shares of T1 Energy in a report on Tuesday, December 30th. iA Financial set a $8.50 price objective on T1 Energy in a research note on Tuesday, December 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of T1 Energy in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Trading Down 7.9%

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -1.53 and a beta of 1.66. The business’s 50-day moving average price is $7.40 and its 200 day moving average price is $5.37. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Creek Drive Management Group LLC purchased a new position in T1 Energy in the 4th quarter valued at about $788,000. Hsbc Holdings PLC purchased a new stake in shares of T1 Energy during the fourth quarter worth about $109,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of T1 Energy in the fourth quarter worth about $2,007,000. Invesco Ltd. acquired a new position in shares of T1 Energy in the fourth quarter worth about $17,405,000. Finally, Empowered Funds LLC purchased a new position in T1 Energy in the fourth quarter valued at about $3,830,000. Institutional investors and hedge funds 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.