T1 Energy (TE) Jumps Double-Digits on S&P Index Inclusion

T1 Energy Inc. (NYSE:TE) is one of the 10 Stocks Paying Off Big Time.

T1 Energy saw its share prices jump by 11.23 percent on Monday to close at $10.40 apiece as investors loaded up on its shares following its official inclusion in the S&P Semiconductors Select Industry Index.

On the same day, June 22, the S&P Dow Jones Indices named T1 Energy Inc. (NYSE:TE) as one of the companies added to the S&P Semiconductors Select Industry, sparking significant buying demand among investors.

A production line for assembling solar modules. Photo from T1 Energy website

Companies being added to or removed from benchmark indices typically see a significant movement in their share prices as exchange-traded funds tracking them would need to rebalance their portfolios to mirror their composition.

This also provided higher exposure for its stock across global retail and institutional investors.

In other news, T1 Energy Inc. (NYSE:TE) recently earned a market perform rating from investment firm Bernstein, alongside a $9 price target for its stock. The figure was 13 percent lower than its latest closing price.

Bernstein said that the coverage reflected its position on T1 Energy Inc.’s (NYSE:TE) outcomes tied to its second manufacturing facility buildout, the contracting backdrop, and an unresolved patent dispute with First Solar Inc.

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