T1 Energy (NYSE:TE) Sets New 52-Week High – Still a Buy?

T1 Energy Inc (NYSE:TE)’s share price reached a new 52-week high on Friday . The company traded as high as $9.25 and last traded at $9.22, with a volume of 9875218 shares. The stock had previously closed at $8.37.

Analysts Set New Price Targets

TE has been the subject of several analyst reports. Johnson Rice raised shares of T1 Energy to a “strong-buy” rating in a report on Tuesday, December 2nd. Wall Street Zen lowered T1 Energy from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Roth Mkm restated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 23rd. Industrial Alliance Securities set a $8.50 price target on T1 Energy in a report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

T1 Energy Trading Up 2.2%

The stock has a 50 day moving average of $5.95 and a 200 day moving average of $3.60. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.13 and a quick ratio of 0.72. The firm has a market cap of $1.82 billion, a P/E ratio of -2.26 and a beta of 1.56.

Hedge Funds Weigh In On T1 Energy

A number of large investors have recently modified their holdings of TE. Strs Ohio purchased a new stake in T1 Energy in the first quarter worth approximately $26,000. Voya Investment Management LLC bought a new stake in shares of T1 Energy in the 1st quarter worth approximately $39,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of T1 Energy in the 2nd quarter worth approximately $42,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of T1 Energy in the 2nd quarter valued at $59,000. Finally, Freedom Investment Management Inc. bought a new position in shares of T1 Energy during the 2nd quarter valued at $25,000. 52.31% of the stock is owned by hedge funds and other 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.