T1 Energy Inc (NYSE:TE – Get Free Report) major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the completion of the sale, the insider directly owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Solar (Schweiz) Ag Trina also recently made the following trade(s):
- On Friday, May 22nd, Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00.
T1 Energy Price Performance
NYSE:TE traded up $2.41 during midday trading on Tuesday, hitting $10.49. 71,847,538 shares of the stock were exchanged, compared to its average volume of 22,137,811. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -5.17 and a beta of 1.78. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. T1 Energy Inc has a one year low of $1.03 and a one year high of $10.80. The business has a 50-day moving average price of $5.86 and a two-hundred day moving average price of $6.17.
Institutional Trading of T1 Energy
Large investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of T1 Energy in the first quarter valued at $26,000. Envestnet Asset Management Inc. acquired a new position in T1 Energy during the second quarter valued at $27,000. Geode Capital Management LLC purchased a new stake in T1 Energy in the 2nd quarter worth about $3,296,000. Cetera Investment Advisers purchased a new stake in T1 Energy in the 2nd quarter worth about $162,000. Finally, JPMorgan Chase & Co. acquired a new stake in T1 Energy during the 2nd quarter worth about $71,000. 52.31% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on TE. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research note on Tuesday, May 12th. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. BTIG Research lifted their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.
Check Out Our Latest Report on T1 Energy
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.
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