JPMorgan Chase & Co. Begins Coverage on T1 Energy (NYSE:TE)

Key Points

• JPMorgan initiated coverage of T1 Energy with a “neutral” rating and a $5.00 price target, implying approximately 8.34% upside from the prior close.
• Analyst sentiment is mixed but leans positive: T1 Energy has a consensus “Moderate Buy” rating and an average price target of $8.67, despite ratings ranging from “Strong Buy” to “Strong Sell.”
• T1 Energy reported a quarterly loss of $0.09 per share, better than the $0.13 consensus estimate, on $250.13 million in revenue. The company remains unprofitable, with a negative net margin of 38.49% and negative return on equity of 149.67%.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of T1 Energy (NYSE:TE - Get Free Report) in a report issued on Monday, Benzinga reports. The firm set a "neutral" rating and a $5.00 price target on the utilities provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 8.34% from the company's previous close.

TE has been the topic of a number of other research reports. Wall Street Zen cut T1 Energy from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. BTIG Research upped their price target on T1 Energy from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Needham & Company LLC decreased their price target on T1 Energy from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. Zacks Research raised shares of T1 Energy from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 20th. Finally, Northland Securities initiated coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $8.67.

T1 Energy Price Performance

Shares of NYSE:TE opened at $4.62 on Monday. The firm has a market capitalization of $1.36 billion, a PE ratio of -2.33 and a beta of 2.25. The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 3.50. The company has a 50-day moving average price of $5.28 and a two-hundred day moving average price of $6.49. T1 Energy has a twelve month low of $1.70 and a twelve month high of $12.49.

T1 Energy (NYSE:TE - Get Free Report) last posted its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The firm had revenue of $250.13 million for the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. Equities analysts forecast that T1 Energy will post -0.31 EPS for the current year.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. grew its holdings 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. Insight Advisors LLC PA lifted its position in T1 Energy by 21.3% during the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider's stock valued at $162,000 after purchasing an additional 6,500 shares during the last quarter. Cetera Investment Advisers grew its stake in T1 Energy by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider's stock worth $800,000 after buying an additional 6,537 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in T1 Energy in the 4th quarter worth approximately $63,000. Finally, Blackhawk Capital Partners LLC bought a new position in shares of T1 Energy in the 1st quarter worth $44,000. 52.31% of the stock is currently owned by institutional investors.

T1 Energy Company Profile

T1 Energy Inc NYSE: TE is a U.S.-focused solar energy company developing domestic manufacturing and supply-chain capabilities for the photovoltaic industry. Its business centers on producing solar modules and supporting the deployment of utility-scale and other solar power projects.

The company's operations are anchored by a solar module manufacturing facility in Texas, which it acquired as part of its transition into the solar industry. T1 Energy is focused on expanding U.S.-based production and serving the North American market as demand grows for domestically manufactured solar equipment.

T1 Energy was formerly known as FREYR Battery, a company established to develop battery-cell manufacturing operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.