T1 Energy (NYSE:TE) Shares Gap Up - Should You Buy?

Key Points

• T1 Energy shares rose 6.8%, opening at $4.51 versus a prior close of $4.32 and last trading near $4.56 on elevated volume.
• Analyst views are mixed, but the consensus remains “Moderate Buy” with a $9.12 price target; individual targets range from $7 to $16, while some firms maintain sell ratings.
• The company beat quarterly EPS expectations, reporting a $0.09 loss versus the projected $0.13 loss, but continues to show weak profitability, including a negative 38.49% net margin and high 3.50 debt-to-equity ratio.

T1 Energy Inc (NYSE:TE - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.32, but opened at $4.51. T1 Energy shares last traded at $4.5550, with a volume of 2,298,730 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently commented on TE shares. Wall Street Zen lowered shares of T1 Energy from a "sell" rating to a "strong sell" rating in a report on Saturday. Sanford C. Bernstein began coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They set a "market perform" rating and a $9.00 price objective on the stock. Needham & Company LLC decreased their target price on T1 Energy from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. Weiss Ratings restated a "sell (d-)" rating on shares of T1 Energy in a report on Wednesday, July 8th. Finally, Northland Securities started coverage on T1 Energy in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $16.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, T1 Energy has an average rating of "Moderate Buy" and a consensus price target of $9.12.

T1 Energy Stock Up 6.8%

The business has a 50-day simple moving average of $6.50 and a 200-day simple moving average of $6.71. 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 stock has a market cap of $1.36 billion, a P/E ratio of -2.33 and a beta of 2.24.

T1 Energy (NYSE:TE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. The company had revenue of $250.13 million for the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. Analysts expect that T1 Energy Inc will post -0.31 EPS for the current year.

Institutional Investors Weigh In On T1 Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider's stock worth $52,058,000 after acquiring an additional 8,289,050 shares during the period. Jennison Associates LLC purchased a new stake in T1 Energy in the 4th quarter worth approximately $2,637,000. Electron Capital Partners LLC raised its position in shares of T1 Energy by 69.4% in the first 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 stake in shares of T1 Energy in the 1st quarter valued at about $2,046,000. Finally, Situational Awareness LP purchased a new stake in T1 Energy in the first quarter valued at approximately $43,900,000. Institutional investors own 52.31% of the company's stock.

T1 Energy Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source