T1 Energy (NYSE:TE) Trading Down 6.8% - Here's What Happened

Key Points

• T1 Energy shares fell 6.8% on Thursday, trading as low as $6.12 amid lighter-than-usual volume, well below the prior close of $6.66.
• Analyst sentiment remains mixed but generally positive, with an average rating of “Moderate Buy” and a consensus price target of $9.12, though some firms recently downgraded the stock.
• The company reported a smaller-than-expected quarterly loss of ($0.08) per share, but it continues to post weak profitability metrics and saw a major insider stake sale earlier this year.

T1 Energy Inc (NYSE:TE - Get Free Report) shares were down 6.8% on Thursday . The company traded as low as $6.12 and last traded at $6.2090. 7,136,525 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 25,782,758 shares. The stock had previously closed at $6.66.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TE shares. Zacks Research upgraded T1 Energy from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 20th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price objective on shares of T1 Energy in a report on Tuesday, May 12th. Northland Securities initiated coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $16.00 price objective on the stock. Wall Street Zen cut shares of T1 Energy from a "hold" rating to a "sell" rating in a report on Sunday, June 21st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of T1 Energy in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, T1 Energy presently has an average rating of "Moderate Buy" and an average price target of $9.12.

T1 Energy Trading Down 11.8%

The company has a market cap of $1.64 billion, a P/E ratio of -2.88 and a beta of 2.16. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The business has a 50 day moving average price of $8.39 and a 200-day moving average price of $7.24.

T1 Energy (NYSE:TE - Get Free Report) last issued its earnings results 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 business had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 22.44% of the company's stock.

Institutional Trading of T1 Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of T1 Energy during the 1st quarter worth approximately $26,000. Envestnet Asset Management Inc. bought a new stake in T1 Energy in the 2nd quarter valued at $27,000. NBC Securities Inc. acquired a new stake in T1 Energy during the 4th quarter valued at $28,000. First PREMIER Bank bought a new position in T1 Energy during the fourth quarter worth $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in T1 Energy during the first quarter worth $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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