Needham & Company LLC Issues Pessimistic Forecast for T1 Energy (NYSE:TE) Stock Price

Key Points

• Needham & Company LLC cut its price target on T1 Energy from $10 to $8 but kept a "buy" rating, implying roughly a 92% upside from the recent close.
• Analysts are mixed but leaning positive: consensus is a "Moderate Buy" with an average target of $7.83 based on 1 Strong Buy, 4 Buy, 1 Hold and 1 Sell.
• T1 Energy reported weak Q1 results—-$0.87 EPS vs a $0.03 estimate—alongside negative margins and high leverage (debt/equity ~5.87), while shares trade around $4.17 with a market cap near $885M.

T1 Energy (NYSE:TE - Get Free Report) had its price objective decreased by equities researchers at Needham & Company LLC from $10.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the utilities provider's stock. Needham & Company LLC's price objective would suggest a potential upside of 92.08% from the company's previous close.

TE has been the subject of a number of other research reports. Roth Mkm reiterated a "buy" rating on shares of T1 Energy in a research note on Tuesday, December 23rd. iA Financial set a $8.50 price target on T1 Energy in a research report on Tuesday, December 9th. Alliance Global Partners restated a "buy" rating on shares of T1 Energy in a research report on Tuesday, December 30th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of T1 Energy in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, T1 Energy has a consensus rating of "Moderate Buy" and an average target price of $7.83.

T1 Energy Stock Performance

Shares of T1 Energy stock traded down $0.32 on Thursday, reaching $4.17. 7,149,457 shares of the stock were exchanged, compared to its average volume of 18,613,061. The business has a 50 day moving average price of $7.16 and a two-hundred day moving average price of $5.48. The firm has a market capitalization of $884.52 million, a price-to-earnings ratio of -2.02 and a beta of 1.82. T1 Energy has a twelve month low of $0.92 and a twelve month high of $9.78. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87.

T1 Energy (NYSE:TE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The utilities provider reported ($0.87) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.90). The business had revenue of $358.55 million during the quarter. T1 Energy had a negative return on equity of 121.17% and a negative net margin of 133.07%.During the same quarter in the previous year, the business posted ($2.59) EPS.

Hedge Funds Weigh In On T1 Energy

Several hedge funds have recently added to or reduced their stakes in TE. Encompass Capital Advisors LLC purchased a new position in shares of T1 Energy in the 2nd quarter valued at $16,560,000. Vanguard Group Inc. purchased a new stake in T1 Energy during the fourth quarter worth $69,894,000. Kim LLC acquired a new position in shares of T1 Energy during the 2nd quarter worth approximately $8,816,000. Southpoint Capital Advisors LP acquired a new stake in shares of T1 Energy during the 4th quarter worth about $40,080,000. Finally, State Street Corp purchased a new stake in shares of T1 Energy in the fourth quarter valued at $34,386,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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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