Ratan Capital Management LP Makes New $1.90 Million Investment in T1 Energy Inc $TE

Ratan Capital Management LP acquired a new position in T1 Energy Inc (NYSE:TEFree Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 200,000 shares of the utilities provider’s stock, valued at approximately $1,896,000. T1 Energy comprises approximately 0.6% of Ratan Capital Management LP’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in T1 Energy in the second quarter valued at $7,768,000. FNY Investment Advisers LLC lifted its position in shares of T1 Energy by 101.9% in the 2nd quarter. FNY Investment Advisers LLC now owns 20,894 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 10,544 shares during the period. NewEdge Advisors LLC boosted its stake in shares of T1 Energy by 8,445.7% during the 1st quarter. NewEdge Advisors LLC now owns 86,141 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 85,133 shares in the last quarter. Bank of America Corp DE increased its position in shares of T1 Energy by 435.9% during the first quarter. Bank of America Corp DE now owns 752,961 shares of the utilities provider’s stock valued at $3,305,000 after buying an additional 612,452 shares during the period. Finally, Amundi raised its stake in T1 Energy by 17.0% in the first quarter. Amundi now owns 169,881 shares of the utilities provider’s stock worth $746,000 after buying an additional 24,634 shares in the last quarter. Institutional investors own 52.31% of the company’s stock.

T1 Energy Trading Down 2.8%

Shares of NYSE TE opened at $4.82 on Friday. The company has a market cap of $1.42 billion, a PE ratio of -2.43 and a beta of 2.23. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. The firm’s 50 day moving average price is $6.15 and its 200-day moving average price is $6.63. T1 Energy Inc has a 52-week low of $1.59 and a 52-week high of $12.49.

T1 Energy (NYSE:TEGet Free Report) last released its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%.The business had revenue of $250.13 million for the quarter. On average, equities research analysts expect that T1 Energy Inc will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Northland Securities began coverage on T1 Energy in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price for the company. Needham & Company LLC dropped their price objective on shares of T1 Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings restated 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 “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Finally, BTIG Research lifted their target price on shares of T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. One investment 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 company. According to data from MarketBeat.com, T1 Energy presently has a consensus rating of “Moderate Buy” and an average price target of $9.12.

Get Our Latest Research Report on TE

T1 Energy Company Profile

(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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Institutional Ownership by Quarter for T1 Energy (NYSE:TE)

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