T1 Energy (NYSE:TE) Reaches New 1-Year Low – Here’s Why

T1 Energy Inc (NYSE:TE) shares reached a new 52-week low during trading on Monday. The stock traded as low as $2.52 and last traded at $2.5050, with a volume of 7,282,795 shares changing hands. The stock had previously closed at $2.62.

Analysts Set New Price Targets

Several research analysts have weighed in on TE shares. Northland Securities set a $9.00 target price on T1 Energy in a research note on Monday, October 5th. BTIG Research boosted their target price on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Vertical Research assumed coverage on T1 Energy in a research note on Thursday, September 17th. They set a “hold” rating and a $5.00 price target for the company. Weiss Ratings raised T1 Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Finally, Wall Street Zen lowered shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, T1 Energy currently has an average rating of “Moderate Buy” and a consensus price target of $7.60.

T1 Energy Trading Down 5.5%

The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50. The business has a 50 day moving average price of $4.23 and a 200-day moving average price of $5.92. The firm has a market capitalization of $728.96 million, a PE ratio of -1.25 and a beta of 2.36.

T1 Energy (NYSE:TE) last posted its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. The firm had revenue of $250.13 million for the quarter. Analysts expect that T1 Energy Inc will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TE. Blackhawk Capital Partners LLC purchased a new stake in shares of T1 Energy during the 1st quarter worth $44,000. SteelPeak Wealth LLC purchased a new position in shares of T1 Energy in the 1st quarter valued at about $46,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of T1 Energy in the 3rd quarter valued at about $46,000. Sovereign Financial Group Inc. purchased a new position in shares of T1 Energy in the 1st quarter valued at about $48,000. Finally, Waverly Advisors LLC purchased a new position in shares of T1 Energy in the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

T1 Energy Company Profile

T1 Energy Inc (NYSE:TE) is a U.S.-focused renewable energy company developing domestic solar manufacturing and related clean-energy infrastructure. The company’s activities center on producing solar photovoltaic components, including solar cells and modules, for the North American market.

T1 Energy is developing its Project Jupiter solar manufacturing platform in Texas, which is intended to support the production of solar products within the United States. The company’s strategy emphasizes strengthening the domestic solar supply chain and serving utility-scale, commercial, and other solar-energy applications.

The company was formerly known as FREYR Battery and previously pursued lithium-ion battery manufacturing projects.