T1 Energy Inc (NYSE:TE – Get Free Report) traded down 5.4% during mid-day trading on Tuesday . The company traded as low as $8.32 and last traded at $8.4420. 4,653,202 shares changed hands during trading, a decline of 81% from the average session volume of 24,262,920 shares. The stock had previously closed at $8.92.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of T1 Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Northland Securities assumed coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target for the company. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, BTIG Research lifted their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.14.
Check Out Our Latest Research Report on T1 Energy
T1 Energy Stock Down 4.9%
T1 Energy (NYSE:TE – Get Free Report) last posted its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.13. The business had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter in the prior year, the company posted ($0.11) EPS. Research analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.
Insider Transactions at T1 Energy
In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.44% of the company’s stock.
Institutional Trading of T1 Energy
Hedge funds have recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in T1 Energy during the fourth quarter valued at $2,637,000. Kim LLC purchased a new stake in T1 Energy during the fourth quarter valued at $8,684,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in T1 Energy during the fourth quarter valued at $1,298,000. Vanguard Group Inc. purchased a new stake in shares of T1 Energy in the 4th quarter worth $69,894,000. Finally, DNB Asset Management AS purchased a new stake in shares of T1 Energy in the 4th quarter worth $995,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.
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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