T1 Energy (NYSE:TE) Issues Quarterly Earnings Results

by · The Cerbat Gem

T1 Energy (NYSE:TE – Get Free Report) announced its quarterly earnings results on Tuesday. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.13, RTT News reports. The business had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 48.11% and a negative return on equity of 173.39%. During the same period in the previous year, the company earned ($0.11) EPS.

T1 Energy Stock Down 7.9%

T1 Energy stock traded down $0.48 during mid-day trading on Tuesday, reaching $5.57. The stock had a trading volume of 25,757,139 shares, compared to its average volume of 18,336,410. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -2.69 and a beta of 1.78. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.43 and a quick ratio of 1.18. T1 Energy has a one year low of $0.93 and a one year high of $9.78. The company has a 50-day moving average price of $5.82 and a two-hundred day moving average price of $5.89.

Analyst Upgrades and Downgrades

TE has been the subject of several research reports. Needham & Company LLC decreased their target price on T1 Energy from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, Zacks Research downgraded T1 Energy from a “hold” rating to a “strong sell” rating in a report on Friday, April 3rd. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.83.

Check Out Our Latest Stock Analysis on T1 Energy

Institutional Investors Weigh In On T1 Energy

A number of institutional investors have recently made changes to their positions in TE. Strs Ohio purchased a new position in T1 Energy in the 1st quarter worth approximately $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy in the 2nd quarter worth $27,000. Bank of America Corp DE purchased a new position in shares of T1 Energy in the second quarter worth $49,000. XTX Topco Ltd purchased a new position in shares of T1 Energy in the second quarter worth $50,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of T1 Energy during the second quarter valued at $50,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Company Profile

(Get Free Report)

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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