T1 Energy Inc (NYSE:TE) Receives Average Recommendation of “Moderate Buy” from Brokerages

T1 Energy Inc (NYSE:TE) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $7.8333.

A number of brokerages have issued reports on TE. Roth Mkm reiterated a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Needham & Company LLC lowered their price objective on T1 Energy from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Alliance Global Partners reiterated a “buy” rating on shares of T1 Energy in a research note on Tuesday, December 30th. Finally, iA Financial set a $8.50 price objective on T1 Energy in a research note on Tuesday, December 9th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Encompass Capital Advisors LLC purchased a new position in shares of T1 Energy in the second quarter worth $16,560,000. Vanguard Group Inc. purchased a new position in shares of T1 Energy in the fourth quarter worth $69,894,000. Kim LLC purchased a new position in shares of T1 Energy in the second quarter worth $8,816,000. Southpoint Capital Advisors LP purchased a new position in shares of T1 Energy in the fourth quarter worth $40,080,000. Finally, State Street Corp purchased a new position in shares of T1 Energy in the fourth quarter worth $34,386,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Stock Down 3.7%

Shares of NYSE:TE opened at $4.04 on Tuesday. The stock has a fifty day simple moving average of $6.91 and a two-hundred day simple moving average of $5.56. The stock has a market capitalization of $857.13 million, a price-to-earnings ratio of -1.96 and a beta of 1.82. T1 Energy has a 12-month low of $0.92 and a 12-month high of $9.78. The company has a current ratio of 1.13, a quick ratio of 0.72 and a debt-to-equity ratio of 5.87.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Tuesday, March 31st. The utilities provider reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.90). The company had revenue of $358.55 million for the quarter. T1 Energy had a negative net margin of 133.07% and a negative return on equity of 121.17%. During the same period last year, the firm 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.