T1 Energy (NYSE:TE) Shares Down 9.3% – Here’s Why
by Tristan Rich · The Markets DailyT1 Energy Inc (NYSE:TE – Get Free Report)’s share price was down 9.3% during mid-day trading on Wednesday . The stock traded as low as $6.76 and last traded at $6.81. Approximately 10,657,309 shares changed hands during trading, a decline of 54% from the average daily volume of 23,184,041 shares. The stock had previously closed at $7.51.
Wall Street Analyst Weigh In
TE has been the subject of several recent analyst reports. Roth Mkm reiterated a “buy” rating on shares of T1 Energy in a research report on Tuesday, December 23rd. iA Financial set a $8.50 price target on shares of T1 Energy in a research report on Tuesday, December 9th. Wall Street Zen lowered T1 Energy from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Zacks Research raised T1 Energy to a “hold” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.
View Our Latest Research Report on T1 Energy
T1 Energy Trading Down 1.4%
The firm’s 50 day simple moving average is $7.24 and its two-hundred day simple moving average is $4.26. The stock has a market capitalization of $1.30 billion, a P/E ratio of -1.62 and a beta of 1.60. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 5.87.
T1 Energy (NYSE:TE – Get Free Report) last issued its earnings results on Friday, November 14th. The utilities provider reported ($0.85) EPS for the quarter. T1 Energy had a negative net margin of 133.07% and a negative return on equity of 121.17%. The firm had revenue of $210.52 million during the quarter.
Hedge Funds Weigh In On T1 Energy
A number of institutional investors have recently modified their holdings of TE. Encompass Capital Advisors LLC acquired a new position in T1 Energy during the second quarter worth $16,560,000. Vanguard Group Inc. bought a new stake in shares of T1 Energy during the fourth quarter worth about $69,894,000. Kim LLC bought a new stake in shares of T1 Energy during the second quarter worth about $8,816,000. State Street Corp acquired a new stake in shares of T1 Energy in the 4th quarter worth about $34,386,000. Finally, Geode Capital Management LLC bought a new position in T1 Energy in the 4th quarter valued at about $23,948,000. 52.31% of the stock is owned by institutional investors and hedge funds.
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.