T1 Energy (NYSE:TE) Shares Up 10.5% - Here's Why

Key Points

• T1 Energy shares surged 10.5% to $5.0810 in Tuesday trading, although volume was about 86% below the stock’s average session volume.
• Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $9.12, compared with its current price.
• The company’s latest quarterly results beat expectations, reporting a loss of $0.09 per share versus the $0.13 loss analysts expected, on revenue of $250.13 million; however, T1 Energy remains unprofitable with a negative net margin of 38.49% and high debt relative to equity.

T1 Energy Inc (NYSE:TE - Get Free Report)'s share price was up 10.5% on Tuesday . The company traded as high as $4.98 and last traded at $5.0810. Approximately 3,832,009 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 27,522,340 shares. The stock had previously closed at $4.60.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TE. Wall Street Zen downgraded T1 Energy from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 22nd. Sanford C. Bernstein started coverage on T1 Energy in a research note on Tuesday, June 16th. They issued 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 report on Tuesday, July 28th. Northland Securities began coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They set an "outperform" rating and a $16.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of T1 Energy in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $9.12.

T1 Energy Trading Up 14.0%

The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -2.64 and a beta of 2.25. 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 business has a 50 day moving average price of $5.62 and a 200-day moving average price of $6.53.

T1 Energy (NYSE:TE - Get Free Report) last released 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. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%.The firm had revenue of $250.13 million for the quarter. As a group, research analysts expect that T1 Energy Inc will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TE. Strs Ohio purchased a new stake in T1 Energy during the 4th quarter worth $32,000. Russell Investments Group Ltd. acquired a new stake in shares of T1 Energy during the fourth quarter valued at about $63,000. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of T1 Energy during the fourth quarter worth about $67,000. Blackhawk Capital Partners LLC purchased a new stake in shares of T1 Energy during the first quarter worth about $44,000. Finally, Xponance LLC acquired a new position in shares of T1 Energy in the fourth quarter worth about $69,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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