T1 Energy (NYSE:TE) Sees Strong Trading Volume - Still a Buy?

Key Points

• T1 Energy shares rose 11.9% to $4.273 amid unusually heavy trading, with about 19.8 million shares changing hands.
• Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus rating and a $9 average price target, despite recent downgrades and a $7 target from Needham.
• The company remains unprofitable, reporting a quarterly loss of $0.08 per share and a negative net margin of 42.3%; meanwhile, major shareholder Trina Solar sold 13 million shares worth about $113 million.

T1 Energy Inc (NYSE:TE - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 19,809,373 shares traded hands during trading, a decline of 27% from the previous session's volume of 27,032,057 shares.The stock last traded at $4.2730 and had previously closed at $3.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TE. Needham & Company LLC reduced their price target on shares of T1 Energy from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday. Wall Street Zen cut T1 Energy from a "hold" rating to a "sell" rating in a research report on Sunday, June 21st. Northland Securities initiated coverage on T1 Energy in a report on Wednesday, June 3rd. They issued an "outperform" rating and a $16.00 target price for the company. Zacks Research raised T1 Energy from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of T1 Energy in a research report on Wednesday, July 8th. One investment 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 company's stock. Based on data from MarketBeat.com, T1 Energy presently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

T1 Energy Stock Up 11.9%

The business's fifty day moving average price is $8.20 and its 200 day moving average price is $7.12. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.06 and a beta of 2.16. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05.

T1 Energy (NYSE:TE - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.13. The firm had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter last year, the company earned ($0.11) EPS. On average, equities analysts expect that T1 Energy Inc will post -0.2 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00. Following the completion of the sale, the insider directly owned 40,152,664 shares of the company's stock, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.44% of the company's stock.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new position in T1 Energy in the 4th quarter valued at about $28,000. First PREMIER Bank purchased a new position in shares of T1 Energy in the 4th quarter valued at approximately $30,000. Strs Ohio purchased a new position in shares of T1 Energy in the 4th quarter valued at approximately $32,000. Russell Investments Group Ltd. acquired a new position in shares of T1 Energy in the fourth quarter valued at approximately $63,000. Finally, Bryn Mawr Trust Advisors LLC purchased a new stake in shares of T1 Energy during the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 52.31% of the company's stock.

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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