T1 Energy (NYSE:TE) Shares Down 18.9% - Here's Why

Key Points

• T1 Energy shares fell 18.9% on Thursday, closing at $2.215 after trading as low as $2.26; volume was about 7.4 million shares, 71% below its average.
• Analyst views are mixed, but the consensus remains “Moderate Buy” with a $7.50 price target. One analyst has a Strong Buy rating, five a Buy, four a Hold and one a Sell.
• The company reported quarterly revenue of $250.13 million and a loss of $0.09 per share, narrower than analysts expected. It also reported a negative net margin of 38.49% and a debt-to-equity ratio of 3.50.

T1 Energy Inc (NYSE:TE - Get Free Report) dropped 18.9% during trading on Thursday. The stock traded as low as $2.26 and last traded at $2.2150. Approximately 7,403,235 shares were traded during trading, a decline of 71% from the average session volume of 25,902,393 shares. The stock had previously closed at $2.73.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TE shares. Weiss Ratings upgraded shares of T1 Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, October 16th. BTIG Research upped their price objective on T1 Energy from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Wall Street Zen cut T1 Energy from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Northland Securities set a $9.00 target price on T1 Energy in a report on Monday, October 5th. Finally, Needham & Company LLC lowered their target price on T1 Energy from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, T1 Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

T1 Energy Stock Down 17.0%

The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 3.50. The company has a fifty day moving average price of $3.64 and a 200-day moving average price of $6.03. The stock has a market capitalization of $667.11 million, a P/E ratio of -1.14 and a beta of 2.48.

T1 Energy (NYSE:TE - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. The business had revenue of $250.13 million during the quarter. As a group, research analysts forecast that T1 Energy Inc will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

A number of hedge funds have recently made changes to their positions in TE. Alps Advisors Inc. increased its stake in shares of T1 Energy by 6.4% in the 3rd quarter. Alps Advisors Inc. now owns 328,825 shares of the utilities provider's stock worth $1,269,000 after acquiring an additional 19,840 shares during the last quarter. CenterBook Partners LP purchased a new position in shares of T1 Energy during the 3rd quarter worth approximately $4,526,000. Integrity Advisory Solutions LLC purchased a new position in shares of T1 Energy during the third quarter worth $40,000. Fifth Third Wealth Advisors LLC acquired a new position in T1 Energy in the 3rd quarter valued at about $69,000. Finally, Sterling Capital Management LLC grew its holdings in shares of T1 Energy by 993.0% in the third quarter. Sterling Capital Management LLC now owns 6,886 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 6,256 shares in the last quarter. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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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