T1 Energy (NYSE:TE) Stock Price Up 7.8% - Still a Buy?

Key Points

• T1 Energy shares rose 7.8% to $2.285 in Tuesday trading, although volume was about 90% below the average session level.
• Analyst sentiment is mixed but leans positive: the stock carries a “Moderate Buy” consensus rating and an average price target of $7.50, well above its current price.
• The company remains financially challenged, reporting a $0.09 quarterly loss per share, a negative 38.49% net margin and a 3.50 debt-to-equity ratio; institutional investors own 52.31% of the stock.

T1 Energy Inc (NYSE:TE - Get Free Report)'s stock price rose 7.8% during trading on Tuesday. The stock traded as high as $2.30 and last traded at $2.2850. Approximately 2,623,980 shares changed hands during trading, a decline of 90% from the average session volume of 25,902,828 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TE shares. Wall Street Zen downgraded T1 Energy from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. JPMorgan Chase & Co. began coverage on T1 Energy in a report on Monday, September 14th. They issued a "neutral" rating and a $5.00 price target for the company. Northland Securities set a $9.00 price target on T1 Energy in a research report on Monday, October 5th. Weiss Ratings upgraded T1 Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, October 16th. Finally, Needham & Company LLC decreased their price objective on shares of T1 Energy from $7.00 to $6.00 and set a "buy" rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $7.50.

T1 Energy Trading Up 20.0%

The company has a fifty day simple moving average of $3.96 and a 200-day simple moving average of $6.22. 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 has a market cap of $749.28 million, a price-to-earnings ratio of -1.26 and a beta of 2.36.

T1 Energy (NYSE:TE - Get Free Report) last issued its 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 business had revenue of $250.13 million during the quarter. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%. On average, research analysts forecast that T1 Energy Inc will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TE. Renaissance Technologies LLC lifted its stake in T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider's stock valued at $52,058,000 after acquiring an additional 8,289,050 shares during the last quarter. Situational Awareness LP acquired a new position in T1 Energy during the first quarter worth $43,900,000. Electron Capital Partners LLC raised its holdings 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 in the last quarter. Squarepoint Ops LLC raised its holdings in T1 Energy by 35.2% during the second quarter. Squarepoint Ops LLC now owns 1,429,027 shares of the utilities provider's stock valued at $13,547,000 after buying an additional 371,874 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in T1 Energy during the first quarter valued at about $4,529,000. Hedge funds and other institutional investors own 52.31% of the company's stock.

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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