T1 Energy Inc (NYSE:TE – Get Free Report)’s share price shot up 8.7% on Friday . The stock traded as high as $5.29 and last traded at $5.2070. Approximately 5,270,369 shares were traded during mid-day trading, a decline of 81% from the average session volume of 28,261,002 shares. The stock had previously closed at $4.79.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Sanford C. Bernstein began coverage on T1 Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 target price for the company. Wall Street Zen downgraded T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings restated a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, Needham & Company LLC dropped their target price on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.12.
Get Our Latest Stock Report on T1 Energy
T1 Energy Trading Up 8.5%
T1 Energy (NYSE:TE – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $250.13 million during the quarter. T1 Energy had a negative return on equity of 151.04% and a negative net margin of 38.49%. As a group, equities research analysts predict that T1 Energy Inc will post -0.2 EPS for the current year.
Insiders Place Their Bets
In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.44% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in shares of T1 Energy by 232.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after purchasing an additional 8,289,050 shares in the last quarter. Vanguard Group Inc. purchased a new position in T1 Energy in the 4th quarter worth $69,894,000. Situational Awareness LP purchased a new position in T1 Energy in the 1st quarter worth $43,900,000. Kim LLC purchased a new position in T1 Energy in the 2nd quarter worth $8,816,000. Finally, Southpoint Capital Advisors LP bought a new stake in T1 Energy in the fourth quarter worth $40,080,000. 52.31% of the stock is owned by hedge funds and other institutional investors.
About T1 Energy
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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