T1 Energy (NYSE:TE) Trading Down 8.9% – Time to Sell?

T1 Energy Inc (NYSE:TE)’s stock price dropped 8.9% during trading on Friday . The stock traded as low as $5.27 and last traded at $5.1750. 3,557,201 shares were traded during trading, a decline of 87% from the average session volume of 26,643,248 shares. The stock had previously closed at $5.68.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TE shares. Wall Street Zen downgraded T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Sanford C. Bernstein began coverage on T1 Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. Finally, BTIG Research lifted their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.12.

T1 Energy Trading Down 12.2%

The business’s 50-day moving average is $8.40 and its two-hundred day moving average is $7.20. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $1.39 billion, a PE ratio of -2.46 and a beta of 2.16.

T1 Energy (NYSE:TE) last announced its quarterly earnings results 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. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The firm had revenue of $177.65 million during the quarter. During the same quarter in the prior year, the company posted ($0.11) earnings per share. On average, analysts predict that T1 Energy Inc will post -0.2 earnings per share for the current year.

Insider Activity

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the sale, the insider directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 22.44% of the company’s stock.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. lifted its position in shares of T1 Energy by 4.6% during the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,911 shares in the last quarter. NBC Securities Inc. acquired a new stake in T1 Energy during the 4th quarter valued at $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the 4th quarter valued at $30,000. Strs Ohio purchased a new stake in T1 Energy during the 4th quarter worth $32,000. Finally, Insight Advisors LLC PA lifted its holdings in T1 Energy by 21.3% in the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock worth $162,000 after buying an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Company Profile

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.