T1 Energy (NYSE:TE) Shares Gap Up – Here’s What Happened
by Teresa Graham · The Cerbat GemT1 Energy Inc (NYSE:TE – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $5.67, but opened at $6.70. T1 Energy shares last traded at $6.8810, with a volume of 25,199,049 shares changing hands.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. BTIG Research increased their target price on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research downgraded 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 given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.
Check Out Our Latest Report on TE
T1 Energy Price Performance
The stock has a market capitalization of $1.88 billion, a P/E ratio of -3.31 and a beta of 1.78. The business has a fifty day simple moving average of $5.75 and a 200-day simple moving average of $5.94. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25.
T1 Energy (NYSE:TE – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The firm 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 in the previous year, the company posted ($0.11) earnings per share. Sell-side analysts expect that T1 Energy Inc will post -0.29 earnings per share for the current fiscal year.
Hedge Funds Weigh In On T1 Energy
Institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC bought a new position in shares of T1 Energy during the 4th quarter worth approximately $2,637,000. Kim LLC bought a new position in shares of T1 Energy in the 4th quarter worth $8,684,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of T1 Energy in the 4th quarter worth $1,298,000. Vanguard Group Inc. bought a new position in shares of T1 Energy in the 4th quarter worth $69,894,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of T1 Energy in the 4th quarter worth $662,000. 52.31% of the stock is currently owned by 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.