T1 Energy (NYSE:TE) Research Coverage Started at Vertical Research

Vertical Research began coverage on shares of T1 Energy (NYSE:TE) in a research report report published on Thursday, MarketBeat.com reports. The brokerage issued a hold rating and a $5.00 price target on the utilities provider’s stock.

TE has been the topic of several other research reports. Northland Securities initiated coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price on the stock. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. JPMorgan Chase & Co. assumed coverage on shares of T1 Energy in a report on Monday, September 14th. They set a “neutral” rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC cut their target price on T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.30.

T1 Energy Price Performance

Shares of NYSE TE opened at $4.17 on Thursday. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The company has a market cap of $1.23 billion, a PE ratio of -2.10 and a beta of 2.25. The business has a 50-day simple moving average of $4.97 and a two-hundred day simple moving average of $6.40. T1 Energy has a fifty-two week low of $1.83 and a fifty-two week high of $12.49.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The firm had revenue of $250.13 million for the quarter. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. As a group, equities analysts expect that T1 Energy will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

A number of large investors have recently bought and sold shares of the company. Situational Awareness LP purchased a new position in T1 Energy during the 1st quarter worth approximately $43,900,000. Renaissance Technologies LLC boosted its holdings in shares of T1 Energy by 232.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares during the last quarter. Electron Capital Partners LLC purchased a new stake in shares of T1 Energy in the 4th quarter valued at $23,380,000. BNP Paribas Financial Markets acquired a new stake in shares of T1 Energy in the fourth quarter worth $9,752,000. Finally, Bornite Capital Management LP acquired a new stake in shares of T1 Energy in the fourth quarter worth $8,350,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Company Profile

T1 Energy Inc (NYSE: TE) is a U.S.-focused solar energy company developing domestic manufacturing and supply-chain capabilities for the photovoltaic industry. Its business centers on producing solar modules and supporting the deployment of utility-scale and other solar power projects.

The company’s operations are anchored by a solar module manufacturing facility in Texas, which it acquired as part of its transition into the solar industry. T1 Energy is focused on expanding U.S.-based production and serving the North American market as demand grows for domestically manufactured solar equipment.

T1 Energy was formerly known as FREYR Battery, a company established to develop battery-cell manufacturing operations.