T1 Energy (TE) Jumps to 2-Year High on Higher Rating, PT

We recently published Small But Savage: 10 Stocks Delivering Outsized Gains. T1 Energy Inc. (NYSE:TE) is one of the best performers on Tuesday.

T1 Energy extended its winning streak to a fourth straight day on Tuesday to hit a new two-year high as investors took path from an investment firm’s bullish rating and price target for the stock.

At intra-day trading, the stock surged to its highest price of $7.04 before trimming gains to finish the day just up by 11.79 percent at $6.73 apiece.

In a market note on the same day, Alliance Global Partners gave T1 Energy Inc. (NYSE:TE) a “buy” recommendation and a price target of $8.50, marking a 26.3 percent upside potential from its last closing price.

Last week, T1 Energy Inc. (NYSE:TE) was also issued a “buy” recommendation from investment firm Johnson Rice alongside an $8 price target.

In other news, T1 Energy Inc. (NYSE:TE) announced last week that it was planning to issue 17.9 million shares with a par value of $0.01, issuable pursuant to the conversion of a convertible senior note instrument.

T1 Energy Inc. (NYSE:TE) is a solar and battery solutions provider. In the third quarter of the year, the company expanded its net loss attributable to shareholders by 412 percent to $140.8 million from $27.47 million in the same period last year. Total net sales were at $210.5 million, versus $0 in the same period last year.

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