T1 Energy (NYSE:TE) Trading Down 5.7% - Here's Why

Key Points

• T1 Energy shares dropped about 5.7% to roughly $5.04 in mid-day trading, with ~11.0 million shares changing hands—about 42% below its average daily volume.
• The company reported Q1 EPS of ($0.87), missing the consensus of $0.03 by $0.90 and showing a negative net margin (48.11%) and negative return on equity (-173.39%).
• Analysts hold a consensus rating of "Moderate Buy" with an average price target of $7.83, reflecting mixed views (several buy ratings but some sell downgrades).

T1 Energy Inc (NYSE:TE - Get Free Report) dropped 5.7% during mid-day trading on Thursday . The company traded as low as $5.03 and last traded at $5.0350. Approximately 11,017,965 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 19,071,365 shares. The stock had previously closed at $5.34.

Analyst Upgrades and Downgrades

TE has been the subject of a number of research reports. Alliance Global Partners reiterated a "buy" rating on shares of T1 Energy in a report on Tuesday, December 30th. Needham & Company LLC lowered their target price on T1 Energy from $10.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Weiss Ratings restated a "sell (e+)" rating on shares of T1 Energy in a report on Friday, March 27th. Zacks Research lowered T1 Energy from a "hold" rating to a "strong sell" rating in a report on Friday, April 3rd. Finally, Roth Mkm restated a "buy" rating on shares of T1 Energy in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.83.

T1 Energy Price Performance

The stock's 50-day moving average is $6.33 and its 200 day moving average is $5.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.43 and a quick ratio of 1.18. The company has a market cap of $1.41 billion, a PE ratio of -2.44 and a beta of 1.82.

T1 Energy (NYSE:TE - Get Free Report) last posted its 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 net margin of 48.11% and a negative return on equity of 173.39%. The firm had revenue of $358.55 million for the quarter. During the same period last year, the firm earned ($2.59) earnings per share.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in T1 Energy in the 4th quarter worth $28,000. First PREMIER Bank purchased a new position in T1 Energy in the 4th quarter worth $30,000. Strs Ohio purchased a new position in T1 Energy in the 4th quarter worth $32,000. Russell Investments Group Ltd. purchased a new position in T1 Energy in the 4th quarter worth $63,000. Finally, Elevatus Welath Management purchased a new position in T1 Energy in the 4th quarter worth $67,000. Hedge funds and other 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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