BTIG Research Forecasts Strong Price Appreciation for T1 Energy (NYSE:TE) Stock

Key Points

• BTIG Research raised its price target for T1 Energy from $8 to $9 and maintained a “buy” rating, implying 77.51% upside from the stock’s previous close.
• Analyst sentiment is mixed but leans positive: T1 Energy has a consensus “Moderate Buy” rating and an average price target of $9.12, despite recent sell and hold recommendations.
• T1 Energy shares fell $0.40 to $5.07, while the company continues to report losses, including negative net margins and return on equity; a major shareholder also sold 13 million shares, reducing its stake by 24.46%.

T1 Energy (NYSE:TE - Get Free Report) had its price objective upped by stock analysts at BTIG Research from $8.00 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the utilities provider's stock. BTIG Research's price target points to a potential upside of 77.51% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded T1 Energy from a "hold" rating to a "sell" rating in a research note on Sunday, June 21st. Sanford C. Bernstein began coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $9.00 price objective on the stock. Zacks Research raised shares of T1 Energy from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of T1 Energy in a research report on Wednesday, July 8th. Finally, Needham & Company LLC cut their price objective on shares of T1 Energy from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.12.

T1 Energy Stock Performance

NYSE:TE traded down $0.40 during trading hours on Wednesday, reaching $5.07. The company had a trading volume of 21,309,626 shares, compared to its average volume of 28,311,123. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. T1 Energy has a 52 week low of $1.20 and a 52 week high of $12.49. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -2.50 and a beta of 2.23. The firm's 50 day moving average price is $7.34 and its 200-day moving average price is $6.96.

T1 Energy (NYSE:TE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $177.65 million during the quarter. During the same quarter last year, the company posted ($0.11) EPS. On average, analysts forecast that T1 Energy will post -0.2 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares of the company's stock, valued at approximately $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. Insiders own 22.44% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TE. Sei Investments Co. lifted its position in shares of T1 Energy by 4.6% in the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider's stock worth $192,000 after buying an additional 1,911 shares in the last quarter. NBC Securities Inc. purchased a new position in T1 Energy during the 4th quarter valued at approximately $28,000. Strs Ohio purchased a new position in T1 Energy during the 4th quarter valued at approximately $32,000. Insight Advisors LLC PA increased its stake 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 acquiring an additional 6,500 shares during the last quarter. Finally, Cetera Investment Advisers increased 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 acquiring an additional 6,537 shares during the last quarter. 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.

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