T1 Energy (NYSE:TE) Trading Up 13.8% - Should You Buy?

Key Points

• T1 Energy shares jumped 13.8% to about $6.23, although trading volume was 64% below the average session volume.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $9.00, though targets range from $7 to $16.
• The company beat quarterly EPS expectations, reporting a loss of $0.08 per share versus the expected $0.21 loss, but remains unprofitable with a negative net margin of 42.3%; a major shareholder also sold 13 million shares.

T1 Energy Inc (NYSE:TE - Get Free Report) shares were up 13.8% on Thursday . The stock traded as high as $6.19 and last traded at $6.2270. Approximately 9,903,112 shares were traded during trading, a decline of 64% from the average session volume of 27,814,992 shares. The stock had previously closed at $5.47.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TE shares. BTIG Research upped their price objective on T1 Energy from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Northland Securities assumed coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They issued an "outperform" rating and a $16.00 target price for the company. Sanford C. Bernstein started coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They set a "market perform" rating and a $9.00 price objective for the company. Zacks Research raised T1 Energy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 20th. Finally, Needham & Company LLC dropped their target price on T1 Energy from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

T1 Energy Stock Up 10.7%

The company has a market cap of $1.69 billion, a price-to-earnings ratio of -2.99 and a beta of 2.23. The business has a fifty day moving average of $7.77 and a two-hundred day moving average of $7.03. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05.

T1 Energy (NYSE:TE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million during 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 firm earned ($0.11) earnings per share. As a group, equities analysts anticipate that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares of the company's stock, valued at approximately $348,926,650.16. The trade was 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.

Hedge Funds Weigh In On T1 Energy

A number of hedge funds have recently modified their holdings of TE. Strs Ohio purchased a new position in shares of T1 Energy in the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. purchased a new stake in T1 Energy in the second quarter valued at $27,000. Geode Capital Management LLC purchased a new stake in shares of T1 Energy in the 2nd quarter valued at about $3,296,000. Cetera Investment Advisers acquired a new stake in shares of T1 Energy in the 2nd quarter valued at about $162,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of T1 Energy during the second quarter worth approximately $71,000. 52.31% of the stock is currently owned by hedge funds and other 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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