T1 Energy (NYSE:TE) Given New $8.00 Price Target at Needham & Company LLC

T1 Energy (NYSE:TE) had its target price lowered by Needham & Company LLC from $10.00 to $8.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

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

T1 Energy Stock Down 6.8%

TE stock opened at $4.18 on Thursday. T1 Energy has a 12-month low of $0.92 and a 12-month high of $9.78. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87. The company has a market cap of $886.64 million, a price-to-earnings ratio of -2.03 and a beta of 1.82. The company has a 50 day moving average of $7.08 and a two-hundred day moving average of $5.47.

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

Institutional Investors Weigh In On T1 Energy

A number of large investors have recently bought and sold shares of TE. NBC Securities Inc. acquired a new stake in shares of T1 Energy in the fourth quarter valued at approximately $28,000. First PREMIER Bank bought a new stake in shares of T1 Energy during the fourth quarter worth $30,000. Strs Ohio bought a new position in T1 Energy in the fourth quarter valued at about $32,000. Russell Investments Group Ltd. bought a new stake in T1 Energy during the 4th quarter worth about $63,000. Finally, Elevatus Welath Management bought a new position in shares of T1 Energy in the 4th quarter valued at about $67,000. 52.31% of the stock is currently owned by institutional investors.

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.