T1 Energy (NYSE:TE) Shares Gap Down – What’s Next?

Shares of T1 Energy Inc (NYSE:TE) gapped down before the market opened on Tuesday . The stock had previously closed at $5.62, but opened at $4.32. T1 Energy shares last traded at $4.5190, with a volume of 9,255,207 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on TE shares. Needham & Company LLC reiterated a “buy” rating on shares of T1 Energy in a research note on Thursday, December 11th. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Johnson Rice upgraded T1 Energy to a “strong-buy” rating in a research report on Tuesday, December 2nd. Finally, iA Financial set a $8.50 price objective on T1 Energy in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, T1 Energy has an average rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Price Performance

The company has a fifty day simple moving average of $7.31 and a 200-day simple moving average of $5.47. The company has a market cap of $889.19 million, a P/E ratio of -1.10 and a beta of 1.66. 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 released its quarterly earnings data on Tuesday, March 31st. The utilities provider reported ($0.87) earnings per share for the quarter. The company had revenue of $358.55 million for the quarter. T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.During the same period in the previous year, the company posted ($2.59) earnings per share.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently modified their holdings of TE. Encompass Capital Advisors LLC acquired a new stake in T1 Energy during the 2nd quarter worth about $16,560,000. Vanguard Group Inc. acquired a new position in shares of T1 Energy in the fourth quarter worth about $69,894,000. Kim LLC acquired a new position in shares of T1 Energy in the second quarter worth about $8,816,000. Southpoint Capital Advisors LP purchased a new position in shares of T1 Energy in the fourth quarter worth approximately $40,080,000. Finally, State Street Corp purchased a new position in shares of T1 Energy in the fourth quarter worth approximately $34,386,000. 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.