T1 Energy (NYSE:TE) Shares Gap Down - Time to Sell?

Key Points

• T1 Energy shares fell sharply, opening at $4.35 versus a prior close of $4.90 and last trading around $3.76, down 13.6% on heavy volume.
• Analyst sentiment is mixed: Wall Street Zen and Weiss Ratings issued sell ratings, while other firms maintained buy or outperform ratings. The consensus remains “Moderate Buy,” with a $9.12 price target.
• The company continues to report significant financial weakness, including a negative net margin of 42.3%, negative return on equity of 150.5%, and a debt-to-equity ratio of 2.05. A major shareholder also sold 9.5 million shares for approximately $77.3 million.

T1 Energy Inc (NYSE:TE - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.90, but opened at $4.35. T1 Energy shares last traded at $3.7550, with a volume of 9,721,645 shares traded.

Analyst Upgrades and Downgrades

TE has been the topic of several recent research reports. Wall Street Zen downgraded T1 Energy from a "hold" rating to a "sell" rating in a research note on Sunday, June 21st. Needham & Company LLC reiterated a "buy" rating and set a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. Sanford C. Bernstein assumed coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They set a "market perform" rating and a $9.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of T1 Energy in a report on Wednesday, July 8th. Finally, Northland Securities started coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $16.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.12.

T1 Energy Trading Down 13.6%

The stock has a fifty day simple moving average of $8.36 and a 200 day simple moving average of $7.17. The firm has a market capitalization of $1.18 billion, a P/E ratio of -2.10 and a beta of 2.16. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05.

T1 Energy (NYSE:TE - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.13. The firm had revenue of $177.65 million during 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 last year, the company earned ($0.11) EPS. As a group, research analysts forecast that T1 Energy Inc will post -0.2 EPS for the current year.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the sale, the insider owned 30,652,664 shares in the company, valued at $249,512,684.96. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 22.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in T1 Energy in the 1st quarter valued at $26,000. Envestnet Asset Management Inc. bought a new position in shares of T1 Energy during the 2nd quarter valued at about $27,000. NBC Securities Inc. purchased a new position in shares of T1 Energy during the fourth quarter valued at about $28,000. First PREMIER Bank purchased a new position in shares of T1 Energy during the fourth quarter valued at about $30,000. Finally, Blackhawk Capital Partners LLC purchased a new position in shares of T1 Energy during the first quarter valued at about $44,000. Institutional investors own 52.31% of the company's stock.

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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