T1 Energy Inc (NYSE:TE – Get Free Report) fell 7.3% on Monday . The stock traded as low as $5.48 and last traded at $5.4230. Approximately 7,753,413 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 28,235,445 shares. The stock had previously closed at $5.85.
Wall Street Analyst Weigh In
TE has been the topic of a number of recent research reports. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Northland Securities started coverage on T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price target on the stock. Needham & Company LLC lowered their price target on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Sanford C. Bernstein began coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, T1 Energy currently has an average rating of “Moderate Buy” and an average target price of $9.00.
Get Our Latest Stock Report on TE
T1 Energy Stock Performance
T1 Energy (NYSE:TE – Get 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 the consensus estimate of ($0.21) by $0.13. The business had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. Equities analysts anticipate that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.
Insider Transactions at T1 Energy
In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. This represents a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.44% of the company’s stock.
Hedge Funds Weigh In On T1 Energy
A number of hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. bought a new stake in T1 Energy in the 4th quarter worth approximately $28,000. First PREMIER Bank purchased a new position in T1 Energy in the 4th quarter worth $30,000. Strs Ohio bought a new stake in T1 Energy in the fourth quarter worth $32,000. Russell Investments Group Ltd. purchased a new stake in T1 Energy during the fourth quarter valued at about $63,000. Finally, Bryn Mawr Trust Advisors LLC purchased a new stake in T1 Energy during the fourth quarter valued at about $67,000. 52.31% of the stock is currently 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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