T1 Energy (NYSE:TE) Raised to “Hold” at Sanford C. Bernstein

T1 Energy (NYSE:TE) was upgraded by research analysts at Sanford C. Bernstein to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on TE. Wall Street Zen upgraded shares of T1 Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. BTIG Research boosted their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Northland Securities started coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, T1 Energy currently has an average rating of “Moderate Buy” and a consensus target price of $9.13.

T1 Energy Price Performance

Shares of NYSE TE opened at $9.09 on Tuesday. T1 Energy has a 1 year low of $1.15 and a 1 year high of $12.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The company’s 50-day moving average is $7.06 and its 200 day moving average is $6.87. The stock has a market capitalization of $2.54 billion, a P/E ratio of -4.48 and a beta of 2.14.

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

Insider Buying and Selling

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the sale, the insider owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.44% of the stock is owned by insiders.

Institutional Investors Weigh In On T1 Energy

Several hedge funds have recently bought and sold shares of TE. Strs Ohio bought a new stake in T1 Energy during the first quarter worth about $26,000. Envestnet Asset Management Inc. bought a new stake in T1 Energy during the second quarter worth about $27,000. NBC Securities Inc. bought a new stake in T1 Energy during the fourth quarter worth about $28,000. First PREMIER Bank bought a new stake in T1 Energy during the fourth quarter worth about $30,000. Finally, Blackhawk Capital Partners LLC bought a new stake in T1 Energy during the first quarter worth about $44,000. Institutional investors 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.