T1 Energy (NYSE:TE) Shares Down 10.1% - Here's Why

Key Points

• T1 Energy shares fell 10.1% to about $2.64 in mid-day trading, with roughly 8.9 million shares changing hands—66% below average volume.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $7.60 price target, although ratings range from Strong Buy to Sell.
• The company reported a quarterly loss of $0.09 per share despite beating estimates, while maintaining negative net margins and return on equity; institutional investors own 52.31% of the stock.

T1 Energy Inc (NYSE:TE - Get Free Report) shares were down 10.1% during mid-day trading on Friday. The stock traded as low as $2.65 and last traded at $2.6350. Approximately 8,905,491 shares were traded during trading, a decline of 66% from the average daily volume of 26,347,904 shares. The stock had previously closed at $2.93.

Analyst Ratings Changes

TE has been the subject of a number of recent analyst reports. Vertical Research assumed coverage on shares of T1 Energy in a report on Thursday, September 17th. They set a "hold" rating and a $5.00 price target for the company. BTIG Research raised their target price on T1 Energy from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Needham & Company LLC reduced their price target on T1 Energy from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Northland Securities set a $9.00 price objective on T1 Energy in a report on Monday, October 5th. Finally, Weiss Ratings lowered T1 Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.60.

T1 Energy Trading Down 10.2%

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 stock's fifty day moving average price is $4.29 and its 200 day moving average price is $5.94. The stock has a market cap of $774.61 million, a P/E ratio of -1.33 and a beta of 2.36.

T1 Energy (NYSE:TE - Get Free Report) last issued 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 during the quarter. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. Equities research analysts expect that T1 Energy Inc will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SLT Holdings LLC purchased a new position in T1 Energy during the third quarter valued at $237,000. B. Riley Wealth Advisors Inc. bought a new position in T1 Energy in the 3rd quarter worth about $46,000. Green Alpha Advisors LLC grew its position in T1 Energy by 3.6% during the 3rd quarter. Green Alpha Advisors LLC now owns 248,075 shares of the utilities provider's stock valued at $958,000 after purchasing an additional 8,665 shares during the last quarter. Apella Capital LLC grew its position in T1 Energy by 68.1% during the 3rd quarter. Apella Capital LLC now owns 55,523 shares of the utilities provider's stock valued at $207,000 after purchasing an additional 22,500 shares during the last quarter. Finally, Venture Visionary Partners LLC increased its stake in T1 Energy by 112.1% during the 3rd quarter. Venture Visionary Partners LLC now owns 248,309 shares of the utilities provider's stock valued at $958,000 after purchasing an additional 131,213 shares in the last quarter. Institutional investors own 52.31% of the company's stock.

About T1 Energy

T1 Energy Inc NYSE: TE is a U.S.-focused renewable energy company developing domestic solar manufacturing and related clean-energy infrastructure. The company's activities center on producing solar photovoltaic components, including solar cells and modules, for the North American market.

T1 Energy is developing its Project Jupiter solar manufacturing platform in Texas, which is intended to support the production of solar products within the United States. The company's strategy emphasizes strengthening the domestic solar supply chain and serving utility-scale, commercial, and other solar-energy applications.

The company was formerly known as FREYR Battery and previously pursued lithium-ion battery manufacturing projects.

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.