T1 Energy (NYSE:TE) Stock Price Down 5% After Analyst Downgrade

T1 Energy Inc (NYSE:TE)’s share price traded down 5% during trading on Thursday after Needham & Company LLC lowered their price target on the stock from $10.00 to $8.00. Needham & Company LLC currently has a buy rating on the stock. T1 Energy traded as low as $4.16 and last traded at $4.2550. 5,630,605 shares were traded during trading, a decline of 70% from the average session volume of 18,576,633 shares. The stock had previously closed at $4.48.

TE has been the topic of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Alliance Global Partners restated a “buy” rating on shares of T1 Energy in a report on Tuesday, December 30th. Roth Mkm reaffirmed a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Finally, iA Financial set a $8.50 target price on shares of T1 Energy in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.83.

Institutional Investors Weigh In On T1 Energy

Several institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new position in T1 Energy in the fourth quarter valued at approximately $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the fourth quarter worth approximately $30,000. Strs Ohio purchased a new stake in shares of T1 Energy during the 4th quarter worth approximately $32,000. Russell Investments Group Ltd. purchased a new stake in shares of T1 Energy during the 4th quarter worth approximately $63,000. Finally, Elevatus Welath Management acquired a new position in shares of T1 Energy in the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Stock Performance

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 firm’s fifty day moving average price is $7.08 and its 200-day moving average price is $5.47. The firm has a market cap of $886.64 million, a price-to-earnings ratio of -2.03 and a beta of 1.82.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Tuesday, March 31st. The utilities provider reported ($0.87) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.90). T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.The company had revenue of $358.55 million for the quarter. During the same quarter in the prior year, the company earned ($2.59) EPS.

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.