T1 Energy Inc (NYSE:TE) Stock Has Average Target Price of $8.30 According to Brokerages

Key Points

• T1 Energy has a “Moderate Buy” consensus rating from 11 analysts, with five buys, one strong buy, four holds and one sell. The average 12-month price target is $8.30.
• Shares opened at $3.58, well below the average analyst target, with a 12-month range of $2.07 to $12.49. The company remains unprofitable, reporting a quarterly loss of $0.09 per share, though it beat estimates by $0.04.
• Institutional investors own 52.31% of T1 Energy, with several funds establishing or expanding positions during the second quarter. The company is focused on U.S.-based solar-module manufacturing and photovoltaic supply-chain development.

Shares of T1 Energy Inc (NYSE:TE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.30.

Several research firms have recently issued reports on TE. Weiss Ratings restated a "sell (d-)" rating on shares of T1 Energy in a report on Wednesday, July 8th. Wall Street Zen cut shares of T1 Energy from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. Needham & Company LLC cut their price target on shares of T1 Energy from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday, July 28th. Vertical Research began coverage on shares of T1 Energy in a report on Thursday, September 17th. They issued a "hold" rating and a $5.00 price target for the company. Finally, Sanford C. Bernstein began coverage on T1 Energy in a research report on Tuesday, June 16th. They set a "market perform" rating and a $9.00 price target for the company.

T1 Energy Stock Performance

Shares of TE opened at $3.58 on Tuesday. T1 Energy has a 12 month low of $2.07 and a 12 month high of $12.49. The stock has a fifty day moving average price of $4.69 and a 200-day moving average price of $6.27. The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50. The firm has a market cap of $1.06 billion, a PE ratio of -1.81 and a beta of 2.25.

T1 Energy (NYSE:TE - Get Free Report) last announced its 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 return on equity of 149.67% and a negative net margin of 38.49%. Equities research analysts predict that T1 Energy will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On T1 Energy

Institutional investors have recently bought and sold shares of the business. SkyView Investment Advisors LLC acquired a new stake in shares of T1 Energy in the second quarter worth $190,000. Sequoia Financial Advisors LLC acquired a new position in T1 Energy during the second quarter valued at $152,000. IPG Investment Advisors LLC purchased a new stake in T1 Energy in the second quarter valued at $244,000. WINTON GROUP Ltd acquired a new stake in T1 Energy during the 2nd quarter worth about $1,932,000. Finally, NewEdge Advisors LLC raised its stake in shares of T1 Energy by 208.5% during the 2nd quarter. NewEdge Advisors LLC now owns 265,753 shares of the utilities provider's stock valued at $2,519,000 after buying an additional 179,612 shares during the last quarter. 52.31% of the stock is owned by hedge funds and other 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.

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