T1 Energy Inc (NYSE:TE – Get Free Report) was down 10.5% during trading on Tuesday . The company traded as low as $9.23 and last traded at $9.31. 25,362,715 shares traded hands during trading, an increase of 0% from the average session volume of 25,280,578 shares. The stock had previously closed at $10.40.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on TE shares. Northland Securities initiated coverage on T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. BTIG Research raised their price target on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Sanford C. Bernstein began coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, T1 Energy currently has a consensus rating of “Moderate Buy” and an average price target of $9.12.
View Our Latest Analysis on TE
T1 Energy Trading Down 5.3%
T1 Energy (NYSE:TE – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.13. The firm 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 period in the previous year, the business posted ($0.11) EPS. Analysts predict that T1 Energy Inc will post -0.2 EPS for the current fiscal year.
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 on 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 trade represents a 24.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.44% of the company’s stock.
Hedge Funds Weigh In On T1 Energy
Several hedge funds have recently bought and sold shares of TE. Strs Ohio acquired a new stake in shares of T1 Energy in the first quarter worth about $26,000. Envestnet Asset Management Inc. acquired a new position in shares of T1 Energy during the 2nd quarter valued at about $27,000. NBC Securities Inc. bought a new position in shares of T1 Energy in the 4th quarter valued at approximately $28,000. First PREMIER Bank bought a new position in shares of T1 Energy in the 4th quarter valued at approximately $30,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in T1 Energy in the 1st quarter worth approximately $44,000. 52.31% of the stock is owned by institutional investors and hedge funds.
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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