T1 Energy (NYSE:TE) Trading 8.2% Higher – What’s Next?

T1 Energy Inc (NYSE:TE) shares traded up 8.2% during trading on Wednesday . The stock traded as high as $9.46 and last traded at $9.3340. 12,084,813 shares changed hands during trading, a decline of 50% from the average session volume of 24,407,840 shares. The stock had previously closed at $8.63.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Sanford C. Bernstein assumed coverage on T1 Energy in a research note on Tuesday. They set a “market perform” rating and a $9.00 target price on the stock. Northland Securities assumed coverage on T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price on the stock. Wall Street Zen upgraded T1 Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of T1 Energy in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.13.

T1 Energy Price Performance

The firm has a fifty day moving average price of $6.96 and a two-hundred day moving average price of $6.84. The stock has a market capitalization of $2.69 billion, a P/E ratio of -4.77 and a beta of 2.14. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25.

T1 Energy (NYSE:TE) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.13. The firm had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same period in the previous year, the company earned ($0.11) earnings per share. As a group, analysts expect that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.44% of the stock is owned by insiders.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors have recently bought and sold shares of TE. Strs Ohio bought a new position in T1 Energy in the 1st quarter worth $26,000. Envestnet Asset Management Inc. bought a new position in T1 Energy in the 2nd quarter worth $27,000. NBC Securities Inc. bought a new position in T1 Energy in the 4th quarter worth $28,000. First PREMIER Bank bought a new position in T1 Energy in the 4th quarter worth $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in T1 Energy in the 1st quarter worth $44,000. 52.31% of the stock is 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.