T1 Energy Inc (TE) - What Are Analysts Saying About This Stock?

Key Points

• Analysts have a Moderate Buy consensus on T1 Energy, with five buy ratings, one strong buy, four holds and one sell among 11 analysts. The average 12-month price target is $7.50, although recent targets range from $5.00 to $9.00.
• T1 Energy shares opened at $2.29, near their 12-month low of $2.21 and well below the 50-day and 200-day moving averages of $3.95 and $5.84, respectively.
• Institutional investors own 52.31% of the company, with several funds increasing their positions. Despite beating quarterly EPS estimates, T1 Energy reported negative profitability metrics, including a 38.49% net margin and a 149.67% negative return on equity.

Shares of T1 Energy Inc (NYSE:TE - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eleven analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $7.50.

Several analysts have issued reports on TE shares. Northland Securities set a $9.00 target price on T1 Energy in a report on Monday, October 5th. Weiss Ratings upgraded T1 Energy from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, October 16th. Vertical Research began coverage on shares of T1 Energy in a research report on Thursday, September 17th. They set a "hold" rating and a $5.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of T1 Energy in a report on Monday, September 14th. They issued a "neutral" rating and a $5.00 price objective for the company. Finally, Needham & Company LLC cut their price objective on shares of T1 Energy from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Friday.

Hedge Funds Weigh In On T1 Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in T1 Energy by 232.2% in 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 in the last quarter. Bank of America Corp DE increased its position in T1 Energy by 435.9% during 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 raised its stake in shares of T1 Energy by 69.4% during the 1st quarter. Electron Capital Partners LLC now owns 5,929,585 shares of the utilities provider's stock worth $26,031,000 after buying an additional 2,429,564 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of T1 Energy during the 1st quarter worth approximately $2,046,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of T1 Energy by 35.2% in the 2nd quarter. Squarepoint Ops LLC now owns 1,429,027 shares of the utilities provider's stock valued at $13,547,000 after buying an additional 371,874 shares during the period. 52.31% of the stock is owned by institutional investors and hedge funds.

T1 Energy Price Performance

NYSE TE opened at $2.29 on Friday. The firm's fifty day simple moving average is $3.95 and its two-hundred day simple moving average is $5.84. The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50. T1 Energy has a 12-month low of $2.21 and a 12-month high of $12.49. The firm has a market capitalization of $675.95 million, a P/E ratio of -1.16 and a beta of 2.36.

T1 Energy (NYSE:TE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. The business had revenue of $250.13 million for the quarter. Analysts forecast that T1 Energy will post -0.34 EPS for the current fiscal year.

About T1 Energy

T1 Energy Inc is a U.S.-focused solar technology and manufacturing company working to develop a domestic solar supply chain. The company's activities include the production and commercialization of solar photovoltaic modules, as well as the development of solar cell and related manufacturing capabilities.

T1 Energy operates through its G1 manufacturing facility in Texas and is developing additional solar manufacturing and energy infrastructure projects. Its products and services are intended to support utility-scale, commercial and residential solar installations in the United States.

The company was formerly known as FREYR Battery, a business established to develop lithium-ion battery manufacturing capacity.

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