T1 Energy Inc (NYSE:TE) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• T1 Energy has a consensus analyst rating of “Moderate Buy” from nine covering analysts, with an average 1-year price target of $9.13.
• Recent analyst actions were mixed: Weiss Ratings reiterated a sell rating, while Needham, Sanford C. Bernstein, Northland Securities, and Zacks Research issued or adjusted ratings that ranged from hold to outperform, with targets between $8.00 and $16.00.
• Insider and institutional activity was notable, including a 13 million-share sale by major shareholder Trina Solar (Schweiz) AG, while hedge funds such as Renaissance Technologies and Vanguard increased or initiated stakes; the stock most recently traded at $6.65.

Shares of T1 Energy Inc (NYSE:TE - Get Free Report) have received an average rating of "Moderate Buy" from the nine analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.1250.

A number of research analysts recently issued reports on TE shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of T1 Energy in a report on Wednesday, July 8th. Needham & Company LLC reissued a "buy" rating and set a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. Zacks Research upgraded shares of T1 Energy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 20th. 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 target 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.

Insider Transactions at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares of the company's stock, valued at $348,926,650.16. This trade represents a 24.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings 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. Vanguard Group Inc. bought a new position in T1 Energy during the 4th quarter worth approximately $69,894,000. Situational Awareness LP bought a new position in T1 Energy during the 1st quarter worth approximately $43,900,000. Kim LLC bought a new stake in shares of T1 Energy in the 2nd quarter valued at $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of T1 Energy during the fourth quarter worth $40,080,000. 52.31% of the stock is currently owned by institutional investors.

T1 Energy Price Performance

Shares of TE opened at $6.65 on Thursday. T1 Energy has a 12-month low of $1.15 and a 12-month high of $12.49. The business has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $7.24. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The stock has a market cap of $1.86 billion, a PE ratio of -3.28 and a beta of 2.16.

T1 Energy (NYSE:TE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.13. The firm had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same period in the previous year, the business posted ($0.11) earnings per share. Analysts anticipate that T1 Energy will post -0.2 earnings per share for the current fiscal year.

About T1 Energy

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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