T1 Energy Inc (NYSE:TE) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on T1 Energy, with five buy ratings, one strong-buy, two holds, and one sell. The average 12-month price target is $9.125, roughly double the reported $4.52 share price.
• Institutional investors have increased exposure substantially, including Renaissance Technologies’ 232.2% position increase and Bank of America’s 435.9% increase; institutions now own 52.31% of the stock.
• T1 Energy beat quarterly EPS expectations, reporting a $0.09 loss versus the projected $0.13 loss, on $250.13 million in revenue. However, the company remains unprofitable, with a negative 38.49% net margin and analysts forecasting a full-year loss of $0.31 per share.

T1 Energy Inc (NYSE:TE - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $9.1250.

Several equities analysts have commented on TE shares. Needham & Company LLC dropped their target price on T1 Energy from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Wall Street Zen cut T1 Energy from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of T1 Energy in a research note on Wednesday, July 8th. Zacks Research upgraded shares of T1 Energy from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 20th. Finally, BTIG Research boosted their price objective on shares of T1 Energy from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th.

Hedge Funds Weigh In On T1 Energy

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider's stock valued at $52,058,000 after purchasing an additional 8,289,050 shares during the period. Bank of America Corp DE lifted its position in shares of T1 Energy by 435.9% in the 1st quarter. Bank of America Corp DE now owns 752,961 shares of the utilities provider's stock worth $3,305,000 after purchasing an additional 612,452 shares during the period. Electron Capital Partners LLC boosted its stake in shares of T1 Energy by 69.4% in the 1st quarter. Electron Capital Partners LLC now owns 5,929,585 shares of the utilities provider's stock valued at $26,031,000 after purchasing an additional 2,429,564 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of T1 Energy in the 1st quarter valued at $2,046,000. Finally, Situational Awareness LP acquired a new stake in shares of T1 Energy during the first quarter worth $43,900,000. 52.31% of the stock is currently owned by institutional investors.

T1 Energy Price Performance

Shares of TE stock opened at $4.52 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of -2.28 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. T1 Energy has a twelve month low of $1.70 and a twelve month high of $12.49. The business has a fifty day simple moving average of $5.77 and a 200 day simple moving average of $6.56.

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

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