T1 Energy (NYSE:TE) Shares Gap Down – What’s Next?

T1 Energy Inc (NYSE:TE) shares gapped down before the market opened on Friday . The stock had previously closed at $7.29, but opened at $6.80. T1 Energy shares last traded at $6.16, with a volume of 7,547,622 shares trading hands.

Wall Street Analyst Weigh In

TE has been the subject of several research analyst reports. Johnson Rice raised T1 Energy to a “strong-buy” rating in a report on Tuesday, December 2nd. Zacks Research upgraded T1 Energy to a “hold” rating in a research note on Tuesday, November 25th. iA Financial set a $8.50 price target on shares of T1 Energy in a research report on Tuesday, December 9th. Roth Mkm reissued a “buy” rating on shares of T1 Energy in a report on Tuesday, December 23rd. Finally, Alliance Global Partners restated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 30th. One 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 stock. According to MarketBeat, T1 Energy has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

T1 Energy Stock Performance

The company has a market cap of $1.32 billion, a P/E ratio of -1.64 and a beta of 1.60. The business’s 50 day simple moving average is $7.39 and its 200 day simple moving average is $4.65. The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ethos Financial Group LLC purchased a new stake in T1 Energy during the 4th quarter valued at approximately $759,000. Quintet Private Bank Europe S.A. bought a new position in shares of T1 Energy during the fourth quarter worth $90,000. Highline Wealth Partners LLC purchased a new position in T1 Energy during the fourth quarter valued at $100,000. WESPAC Advisors LLC bought a new stake in T1 Energy in the 4th quarter valued at $67,000. Finally, Mayflower Financial Advisors LLC bought a new stake in T1 Energy in the 4th quarter valued at $143,000. Institutional investors own 52.31% of the company’s stock.

About T1 Energy

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.