T1 Energy (NYSE:TE) Stock Price Up 11.4% - Still a Buy?

Key Points

• Shares jumped 11.4% to about $7.98 on Tuesday (prior close $7.16), despite mid-day trading volume of 6.38M shares which was roughly 69% below its average session volume.
• Wall Street's consensus rating is Moderate Buy with a consensus price target of $7.50 — below the stock's intraday price — based on 1 Strong Buy, 4 Buy, 1 Hold and 1 Sell rating.
• T1 Energy is currently unprofitable (PE -2.11) and highly leveraged (debt-to-equity 5.87), though institutional investors own about 52.31% of the shares with recent large stakes from Vanguard, State Street and others.

T1 Energy Inc (NYSE:TE - Get Free Report)'s stock price traded up 11.4% on Tuesday . The stock traded as high as $8.10 and last traded at $7.9790. 6,380,551 shares were traded during mid-day trading, a decline of 69% from the average session volume of 20,287,186 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

Several brokerages have commented on TE. Roth Mkm restated a "buy" rating on shares of T1 Energy in a research note on Tuesday, December 23rd. Johnson Rice raised shares of T1 Energy to a "strong-buy" rating in a report on Tuesday, December 2nd. Alliance Global Partners restated a "buy" rating on shares of T1 Energy in a research report on Tuesday, December 30th. Zacks Research raised shares of T1 Energy to a "hold" rating in a report on Tuesday, November 25th. Finally, iA Financial set a $8.50 price target on T1 Energy in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

T1 Energy Stock Up 11.2%

The business has a 50-day simple moving average of $7.38 and a 200-day simple moving average of $4.91. The company has a market cap of $1.69 billion, a PE ratio of -2.11 and a beta of 1.66. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87.

Institutional Trading of T1 Energy

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