T1 Energy Inc (NYSE:TE – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $4.17, but opened at $4.46. T1 Energy shares last traded at $4.3510, with a volume of 6,075,225 shares changing hands.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Northland Securities began coverage on T1 Energy in a report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price for the company. Finally, BTIG Research lifted their price target on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One investment 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.00.
Read Our Latest Stock Analysis on TE
T1 Energy Trading Up 9.9%
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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm earned ($0.11) EPS. As a group, sell-side analysts expect that T1 Energy Inc will post -0.2 EPS for the current year.
Insider Transactions at T1 Energy
In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. The trade was a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.44% of the company’s stock.
Hedge Funds Weigh In On T1 Energy
Several hedge funds have recently modified their holdings of TE. Renaissance Technologies LLC boosted its stake in T1 Energy by 232.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock worth $52,058,000 after purchasing an additional 8,289,050 shares in the last quarter. Vanguard Group Inc. purchased a new position in shares of T1 Energy in the fourth quarter worth $69,894,000. Situational Awareness LP purchased a new position in shares of T1 Energy in the first quarter worth $43,900,000. Kim LLC acquired a new stake in shares of T1 Energy during the second quarter worth $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of T1 Energy during the fourth quarter worth $40,080,000. Institutional investors and hedge funds own 52.31% of the company’s stock.
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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