T1 Energy (NYSE:TE) Major Shareholder Sells $77,330,000.00 in Stock

T1 Energy Inc (NYSE:TEGet Free Report) major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the sale, the insider directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. The trade was a 23.66% decrease in their position. The transaction 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 stock are required to disclose their transactions with the SEC.

Solar (Schweiz) Ag Trina also recently made the following trade(s):

  • On Thursday, May 21st, Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00.

T1 Energy Stock Down 1.2%

Shares of NYSE TE opened at $10.83 on Friday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -5.34 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. T1 Energy Inc has a 52-week low of $1.03 and a 52-week high of $11.43. The business’s 50 day moving average is $5.98 and its two-hundred day moving average is $6.27.

T1 Energy (NYSE:TEGet Free Report) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. The company had revenue of $177.65 million for 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 previous year, the firm earned ($0.11) EPS. Research analysts predict that T1 Energy Inc will post -0.29 EPS for the current year.

Institutional Trading of T1 Energy

Large investors have recently modified their holdings of the stock. NBC Securities Inc. purchased a new stake in shares of T1 Energy during the fourth quarter worth $28,000. First PREMIER Bank purchased a new stake in shares of T1 Energy during the fourth quarter worth $30,000. Strs Ohio purchased a new stake in shares of T1 Energy during the fourth quarter worth $32,000. Russell Investments Group Ltd. purchased a new stake in shares of T1 Energy during the fourth quarter worth $63,000. Finally, Elevatus Welath Management purchased a new stake in shares of T1 Energy during the fourth quarter worth $67,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TE shares. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. BTIG Research boosted their target price on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Finally, Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Read Our Latest Analysis on TE

T1 Energy Company Profile

(Get Free Report)

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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