T1 Energy Inc (NYSE:TE – Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 53,897 call options on the company. This represents an increase of approximately 34% compared to the average daily volume of 40,104 call options.
Wall Street Analyst Weigh In
TE has been the subject of several recent analyst reports. Sanford C. Bernstein assumed coverage on T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Wall Street Zen cut T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. BTIG Research lifted 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. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, T1 Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.12.
Get Our Latest Stock Analysis on T1 Energy
T1 Energy Stock Down 3.3%
T1 Energy (NYSE:TE – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company earned ($0.11) EPS. Analysts anticipate that T1 Energy will post -0.2 EPS for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the sale, the insider owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 22.44% of the company’s stock.
Institutional Trading of T1 Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in TE. Strs Ohio bought a new position in shares of T1 Energy in the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy in the 2nd quarter valued at about $27,000. NBC Securities Inc. acquired a new stake in T1 Energy in the 4th quarter valued at about $28,000. First PREMIER Bank acquired a new stake in T1 Energy in the 4th quarter valued at about $30,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in T1 Energy in the 1st quarter valued at about $44,000. 52.31% of the stock is owned by institutional investors.
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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