Brokerages Set T1 Energy Inc (NYSE:TE) Price Target at $9.12

T1 Energy Inc (NYSE:TE) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.1250.

A number of equities research analysts have issued reports on TE shares. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Wall Street Zen lowered shares of T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. BTIG Research increased their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Finally, Sanford C. Bernstein assumed coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They set a “market perform” rating and a $9.00 target price for the company.

Insider Transactions at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares in the company, valued at $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T1 Energy

Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC boosted its position in shares of T1 Energy by 101.9% in the second quarter. FNY Investment Advisers LLC now owns 20,894 shares of the utilities provider’s stock worth $198,000 after buying an additional 10,544 shares during the period. NewEdge Advisors LLC raised its position in T1 Energy by 8,445.7% during the first quarter. NewEdge Advisors LLC now owns 86,141 shares of the utilities provider’s stock valued at $378,000 after buying an additional 85,133 shares during the period. Bank of America Corp DE raised its position in T1 Energy by 435.9% during the first quarter. Bank of America Corp DE now owns 752,961 shares of the utilities provider’s stock valued at $3,305,000 after buying an additional 612,452 shares during the period. Amundi lifted its stake in T1 Energy by 17.0% in the 1st quarter. Amundi now owns 169,881 shares of the utilities provider’s stock worth $746,000 after acquiring an additional 24,634 shares in the last quarter. Finally, Situational Awareness LP purchased a new stake in T1 Energy in the 1st quarter worth about $43,900,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

T1 Energy Trading Down 1.4%

TE opened at $5.86 on Thursday. T1 Energy has a 12-month low of $1.15 and a 12-month high of $12.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market capitalization of $1.64 billion, a PE ratio of -2.88 and a beta of 2.16. The firm’s fifty day moving average price is $8.40 and its 200 day moving average price is $7.23.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.13. The firm had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter in the previous year, the company earned ($0.11) EPS. As a group, research analysts expect that T1 Energy will post -0.2 EPS for the current fiscal year.

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.