Creek Drive Management Group LLC purchased a new stake in T1 Energy Inc (NYSE:TE – Free Report) in the fourth quarter, Holdings Channel reports. The firm purchased 118,000 shares of the utilities provider’s stock, valued at approximately $788,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio purchased a new stake in T1 Energy in the first quarter worth about $26,000. Envestnet Asset Management Inc. purchased a new position in T1 Energy during the 2nd quarter valued at about $27,000. Geode Capital Management LLC bought a new stake in shares of T1 Energy in the 2nd quarter valued at about $3,296,000. Cetera Investment Advisers bought a new stake in shares of T1 Energy in the 2nd quarter valued at about $162,000. Finally, JPMorgan Chase & Co. bought a new position in T1 Energy in the second quarter worth approximately $71,000. 52.31% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of T1 Energy in a research report on Tuesday, May 12th. BTIG Research increased their price target on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Sanford C. Bernstein assumed coverage on T1 Energy in a research note on Tuesday. They issued a “market perform” rating and a $9.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Finally, Wall Street Zen lowered T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, T1 Energy presently has an average rating of “Moderate Buy” and a consensus target price of $9.12.
Insider Buying and Selling at T1 Energy
In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the completion of the transaction, the insider directly owned 40,152,664 shares in the company, valued at $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 22.44% of the company’s stock.
T1 Energy Price Performance
NYSE TE opened at $9.29 on Friday. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -4.58 and a beta of 2.14. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The stock’s fifty day moving average price is $7.27 and its 200 day moving average price is $6.93. T1 Energy Inc has a 1 year low of $1.15 and a 1 year high of $12.49.
T1 Energy (NYSE:TE – Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The company had revenue of $177.65 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same period in the prior year, the firm posted ($0.11) EPS. As a group, equities research analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current year.
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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