T1 Energy (NYSE:TE) Reaches New 1-Year Low - Here's Why

Key Points

• T1 Energy hit a new 52-week low, falling to $2.06 intraday from a prior close of $2.29, on trading volume of about 6.8 million shares.
• Analyst sentiment remains broadly positive but mixed: MarketBeat reports a “Moderate Buy” consensus and a $7.50 average price target, despite recent downgrades and target cuts.
• The company reported quarterly revenue of $250.13 million and a loss of $0.09 per share, beating analysts’ loss estimate of $0.13; it continues to report significant losses, including a negative net margin of 38.49%.

T1 Energy Inc (NYSE:TE - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $2.06 and last traded at $2.0550, with a volume of 6,782,054 shares trading hands. The stock had previously closed at $2.29.

Wall Street Analyst Weigh In

Several research analysts recently commented on TE shares. Northland Securities set a $9.00 price objective on shares of T1 Energy in a report on Monday, October 5th. Wall Street Zen cut shares of T1 Energy from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 22nd. Weiss Ratings raised shares of T1 Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 16th. Needham & Company LLC decreased their price target on shares of T1 Energy from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Finally, Vertical Research assumed coverage on T1 Energy in a research report on Thursday, September 17th. They set a "hold" rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, T1 Energy has an average rating of "Moderate Buy" and an average price target of $7.50.

T1 Energy Price Performance

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 50 day moving average of $3.49 and a 200-day moving average of $5.94. The company has a market cap of $599.37 million, a P/E ratio of -1.03 and a beta of 2.48.

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 analysts' consensus estimates 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, equities research analysts predict that T1 Energy Inc will post -0.32 EPS for the current year.

Institutional Investors Weigh In On T1 Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in shares of T1 Energy by 993.0% during the 3rd quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider's stock worth $27,000 after buying an additional 6,256 shares in the last quarter. Blackhawk Capital Partners LLC acquired a new stake in T1 Energy in the first quarter worth about $44,000. SteelPeak Wealth LLC acquired a new position in T1 Energy during the 1st quarter valued at approximately $46,000. Integrity Advisory Solutions LLC purchased a new position in T1 Energy in the 3rd quarter worth $40,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of T1 Energy during the third quarter worth about $46,000. 52.31% of the stock is owned by institutional investors.

T1 Energy Company Profile

T1 Energy, formerly known as FREYR Battery, is a U.S.-focused solar manufacturing company. After initially pursuing battery production, the company shifted its strategy toward building a domestic solar supply chain. The company is developing solar manufacturing operations in Texas, including facilities intended to produce solar cells and modules. Its products are designed to serve the solar energy market, supporting the deployment of photovoltaic systems. T1 Energy's strategy centers on expanding U.S.-based solar manufacturing and serving customers seeking domestically produced solar products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.