T1 Energy (NYSE:TE) Trading Down 8.9% - Time to Sell?

Key Points

• T1 Energy shares fell 8.9% on Friday, trading as low as $5.27 and closing near $5.18 on much lighter-than-normal volume.
• Analyst sentiment is mixed but still leans positive overall: Wall Street Zen downgraded the stock to sell, while multiple firms maintained or raised buy ratings and MarketBeat shows a consensus target of $9.12.
• The company reported a smaller-than-expected quarterly loss of ($0.08) EPS versus a consensus estimate of ($0.21), but it still posted negative margins and analysts expect a full-year loss.

T1 Energy Inc (NYSE:TE - Get Free Report)'s stock price dropped 8.9% during trading on Friday . The company traded as low as $5.27 and last traded at $5.1750. Approximately 3,557,201 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 26,643,248 shares. The stock had previously closed at $5.68.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TE. Wall Street Zen downgraded T1 Energy from a "hold" rating to a "sell" rating in a research report on Sunday, June 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. BTIG Research increased their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Sanford C. Bernstein assumed coverage on shares of T1 Energy in a report on Tuesday, June 16th. They set a "market perform" rating and a $9.00 price objective on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of T1 Energy in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, T1 Energy currently has an average rating of "Moderate Buy" and a consensus price target of $9.12.

T1 Energy Stock Performance

The stock has a market cap of $1.44 billion, a PE ratio of -2.52 and a beta of 2.16. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a 50-day simple moving average of $8.42 and a 200-day simple moving average of $7.21.

T1 Energy (NYSE:TE - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.13. The company had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter last year, the business earned ($0.11) earnings per share. Equities analysts predict that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.44% of the company's stock.

Institutional Investors Weigh In On T1 Energy

Several institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new position in shares of T1 Energy in the 1st quarter valued at $26,000. Envestnet Asset Management Inc. acquired a new position in shares of T1 Energy during the 2nd quarter valued at $27,000. NBC Securities Inc. purchased a new stake in T1 Energy during the 4th quarter worth $28,000. First PREMIER Bank acquired a new position in shares of T1 Energy during the fourth quarter worth about $30,000. Finally, Blackhawk Capital Partners LLC acquired a new position in shares of T1 Energy during the first quarter worth about $44,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.