T1 Energy (NYSE:TE) Shares Gap Down - What's Next?

Key Points

• Gapped down: T1 Energy shares fell from a $7.29 close to a $6.80 open and were last trading around $6.16 on heavy volume (7,547,622 shares).
• Analysts hold a consensus "Moderate Buy" with an average price target of $7.50; ratings include 1 Strong Buy, 4 Buy, 1 Hold and 1 Sell.
• Fundamentals show a negative PE (-1.57) and a high debt-to-equity ratio (5.87), but institutional ownership is significant (52.31%) with large new stakes from Vanguard, State Street and others.

T1 Energy Inc (NYSE:TE - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $7.29, but opened at $6.80. T1 Energy shares last traded at $6.16, with a volume of 7,547,622 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Alliance Global Partners reiterated a "buy" rating on shares of T1 Energy in a research note on Tuesday, December 30th. Johnson Rice upgraded T1 Energy to a "strong-buy" rating in a report on Tuesday, December 2nd. Roth Mkm reaffirmed a "buy" rating on shares of T1 Energy in a report on Tuesday, December 23rd. Weiss Ratings restated a "sell (e+)" rating on shares of T1 Energy in a research report on Monday, December 29th. Finally, Needham & Company LLC reiterated a "buy" rating on shares of T1 Energy in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, T1 Energy has a consensus rating of "Moderate Buy" and an average target price of $7.50.

T1 Energy Stock Performance

The company's fifty day moving average price is $7.39 and its two-hundred day moving average price is $4.59. The firm has a market capitalization of $1.26 billion, a PE ratio of -1.57 and a beta of 1.60. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.72 and a current ratio of 1.13.

Institutional Investors Weigh In On T1 Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC purchased a new position in T1 Energy in the second quarter valued at approximately $16,560,000. Vanguard Group Inc. purchased a new position in T1 Energy in the fourth quarter valued at about $69,894,000. Kim LLC purchased a new stake in shares of T1 Energy during the 2nd quarter valued at about $8,816,000. Southpoint Capital Advisors LP purchased a new position in T1 Energy in the 4th quarter worth approximately $40,080,000. Finally, State Street Corp acquired a new stake in T1 Energy during the 4th quarter valued at $34,386,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

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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