T1 Energy (NYSE:TE) Stock Price Up 14.7% - Time to Buy?

Key Points

• T1 Energy shares jumped 14.7% in midday trading, reaching an intraday high of $5.78 and last trading near $5.91, with volume below the daily average.
• Analyst sentiment is mixed but leans bullish: Needham cut its price target to $8 while keeping a buy rating, and the consensus rating remains Moderate Buy with an average target price of $7.83.
• The company reported weak recent earnings, posting a quarterly loss of $0.87 per share versus estimates for a profit, though institutional investors still hold over 52% of the stock.

T1 Energy Inc (NYSE:TE - Get Free Report) rose 14.7% during mid-day trading on Friday . The company traded as high as $5.78 and last traded at $5.9050. Approximately 9,631,538 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 18,165,051 shares. The stock had previously closed at $5.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reduced their price objective on shares of T1 Energy from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings restated a "sell (e+)" rating on shares of T1 Energy in a report on Friday, March 27th. Finally, Zacks Research cut shares of T1 Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $7.83.

T1 Energy Stock Up 14.7%

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.43. The firm's 50 day moving average price is $5.87 and its two-hundred day moving average price is $5.87. The company has a market cap of $1.65 billion, a P/E ratio of -2.86 and a beta of 1.78.

T1 Energy (NYSE:TE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The utilities provider reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.90). T1 Energy had a negative return on equity of 173.39% and a negative net margin of 48.11%.The company had revenue of $358.55 million during the quarter. During the same period last year, the firm earned ($2.59) EPS. Equities research analysts anticipate that T1 Energy Inc will post -0.47 EPS for the current fiscal year.

Institutional Trading of T1 Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in T1 Energy in the fourth quarter valued at approximately $69,894,000. Kim LLC bought a new stake in T1 Energy during the 2nd quarter valued at $8,816,000. Southpoint Capital Advisors LP bought a new stake in T1 Energy during the 4th quarter valued at $40,080,000. State Street Corp acquired a new position in T1 Energy during the fourth quarter worth $34,386,000. Finally, Geode Capital Management LLC acquired a new position in T1 Energy during the fourth quarter worth $23,948,000. 52.31% of the stock is owned by institutional investors.

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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