T1 Energy Inc (NYSE:TE) Stock Has Average Target Price of $8.30 According to Brokerages

by · The Markets Daily

T1 Energy Inc (NYSE:TE – Get Free Report) has received an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.30.

Several equities analysts have recently weighed in on TE shares. Sanford C. Bernstein initiated coverage on T1 Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price target for the company. Needham & Company LLC decreased their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. JPMorgan Chase & Co. assumed coverage on shares of T1 Energy in a research note on Monday, September 14th. They issued a “neutral” rating and a $5.00 target price on the stock. BTIG Research increased their price target on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of T1 Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd.

Check Out Our Latest Stock Analysis on T1 Energy

T1 Energy Price Performance

TE stock opened at $3.92 on Tuesday. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The firm has a 50 day moving average price of $4.54 and a 200-day moving average price of $6.17. T1 Energy has a 52-week low of $2.36 and a 52-week high of $12.49. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -1.98 and a beta of 2.36.

T1 Energy (NYSE:TE – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%.The company had revenue of $250.13 million for the quarter. Equities research analysts forecast that T1 Energy will post -0.31 EPS for the current fiscal year.

Institutional Trading of T1 Energy

Several institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. increased its position in shares of T1 Energy by 4.6% during the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after purchasing an additional 1,911 shares during the last quarter. Insight Advisors LLC PA boosted its holdings in shares of T1 Energy by 21.3% in the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock worth $162,000 after buying an additional 6,500 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of T1 Energy by 3.7% in the first quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock worth $800,000 after buying an additional 6,537 shares during the last quarter. Blackhawk Capital Partners LLC bought a new stake in T1 Energy during the first quarter valued at approximately $44,000. Finally, Jennison Associates LLC increased its holdings in T1 Energy by 2.6% during the first quarter. Jennison Associates LLC now owns 405,182 shares of the utilities provider’s stock valued at $1,779,000 after buying an additional 10,425 shares during the last quarter. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

T1 Energy Company Profile

(Get Free Report)

T1 Energy Inc (NYSE:TE) is a U.S.-focused renewable energy company developing domestic solar manufacturing and related clean-energy infrastructure. The company’s activities center on producing solar photovoltaic components, including solar cells and modules, for the North American market.

T1 Energy is developing its Project Jupiter solar manufacturing platform in Texas, which is intended to support the production of solar products within the United States. The company’s strategy emphasizes strengthening the domestic solar supply chain and serving utility-scale, commercial, and other solar-energy applications.

The company was formerly known as FREYR Battery and previously pursued lithium-ion battery manufacturing projects.

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