T1 Energy (NYSE:TE) Trading Up 10.8% – Should You Buy?

T1 Energy Inc (NYSE:TE)’s stock price was up 10.8% during trading on Tuesday . The stock traded as high as $6.98 and last traded at $6.97. Approximately 10,275,876 shares were traded during trading, a decline of 53% from the average daily volume of 21,939,605 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Monday, December 29th. Zacks Research upgraded shares of T1 Energy to a “hold” rating in a research report on Tuesday, November 25th. Johnson Rice raised shares of T1 Energy to a “strong-buy” rating in a research note on Tuesday, December 2nd. iA Financial set a $8.50 price target on shares of T1 Energy in a report on Tuesday, December 9th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of T1 Energy in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.50.

T1 Energy Price Performance

The firm has a fifty day moving average of $7.27 and a two-hundred day moving average of $4.52. The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $1.48 billion, a PE ratio of -1.85 and a beta of 1.60.

Institutional Investors Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in T1 Energy in the 4th quarter valued at $100,000. WESPAC Advisors LLC purchased a new stake in shares of T1 Energy in the 4th quarter worth approximately $67,000. Elevatus Welath Management bought a new stake in T1 Energy during the 4th quarter valued at $67,000. Mayflower Financial Advisors LLC bought a new position in shares of T1 Energy in the 4th quarter worth $143,000. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of T1 Energy during the 2nd quarter worth $16,560,000. 52.31% of the stock is currently owned by institutional investors.

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.