T1 Energy (NYSE:TE) Shares Up 5.5% - Should You Buy?

Key Points

• T1 Energy shares rose 5.5% to about $3.77, although trading volume was 78% below the average daily volume.
• Analyst sentiment is generally favorable, with a consensus rating of “Moderate Buy” and an average price target of $8.30; targets range from $5 to $16.
• The company remains unprofitable, reporting a $0.09 quarterly loss per share, a negative 38.49% net margin and high debt relative to equity, despite institutional investors owning 52.31% of its stock.

T1 Energy Inc (NYSE:TE - Get Free Report)'s share price traded up 5.5% during trading on Tuesday. The company traded as high as $3.78 and last traded at $3.7650. 5,796,703 shares were traded during trading, a decline of 78% from the average daily volume of 26,927,582 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

Several research firms recently weighed in on TE. BTIG Research upped their price objective on shares of T1 Energy from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Sanford C. Bernstein started coverage on T1 Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $9.00 target price on the stock. Wall Street Zen cut T1 Energy from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. assumed coverage on T1 Energy in a research note on Monday, September 14th. They set a "neutral" rating and a $5.00 target price for the company. Finally, Northland Securities initiated coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They set an "outperform" rating and a $16.00 price target on the stock. One equities 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.30.

T1 Energy Stock Performance

The company has a market capitalization of $1.11 billion, a P/E ratio of -1.91 and a beta of 2.25. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The stock's 50 day moving average price is $4.69 and its 200 day moving average price is $6.27.

T1 Energy (NYSE:TE - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, topping 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 firm had revenue of $250.13 million for the quarter. As a group, equities analysts expect that T1 Energy Inc will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TE. Renaissance Technologies LLC raised its holdings in T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider's stock valued at $52,058,000 after buying an additional 8,289,050 shares during the last quarter. Situational Awareness LP purchased a new position in shares of T1 Energy during the 1st quarter worth approximately $43,900,000. Electron Capital Partners LLC lifted its position in T1 Energy by 69.4% during the first quarter. Electron Capital Partners LLC now owns 5,929,585 shares of the utilities provider's stock valued at $26,031,000 after buying an additional 2,429,564 shares during the period. Squarepoint Ops LLC lifted its position in T1 Energy by 35.2% during the 2nd quarter. Squarepoint Ops LLC now owns 1,429,027 shares of the utilities provider's stock valued at $13,547,000 after acquiring an additional 371,874 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of T1 Energy during the fourth quarter valued at approximately $9,752,000. Institutional investors own 52.31% of the company's stock.

T1 Energy Company Profile

T1 Energy Inc NYSE: TE is a U.S.-focused solar energy company developing domestic manufacturing and supply-chain capabilities for the photovoltaic industry. Its business centers on producing solar modules and supporting the deployment of utility-scale and other solar power projects.

The company's operations are anchored by a solar module manufacturing facility in Texas, which it acquired as part of its transition into the solar industry. T1 Energy is focused on expanding U.S.-based production and serving the North American market as demand grows for domestically manufactured solar equipment.

T1 Energy was formerly known as FREYR Battery, a company established to develop battery-cell manufacturing operations.

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