Situational Awareness LP reduced its stake in shares of T1 Energy Inc (NYSE:TE – Free Report) by 51.0% in the second quarter, HoldingsChannel.com reports. The fund owned 4,900,000 shares of the utilities provider’s stock after selling 5,100,000 shares during the quarter. T1 Energy accounts for approximately 0.2% of Situational Awareness LP’s portfolio, making the stock its 17th largest position. Situational Awareness LP’s holdings in T1 Energy were worth $46,452,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. boosted its stake in shares of T1 Energy by 4.6% during the first quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider’s stock valued at $192,000 after purchasing an additional 1,911 shares during the period. Strs Ohio purchased a new stake in T1 Energy in the 4th quarter worth approximately $32,000. Insight Advisors LLC PA grew its position in shares of T1 Energy by 21.3% in the 1st quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider’s stock worth $162,000 after buying an additional 6,500 shares during the last quarter. Cetera Investment Advisers grew its position in shares of T1 Energy by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider’s stock worth $800,000 after buying an additional 6,537 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of T1 Energy during the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.
T1 Energy Stock Performance
TE stock opened at $4.52 on Friday. The stock has a market capitalization of $1.33 billion, a PE ratio of -2.28 and a beta of 2.25. The stock’s 50 day simple moving average is $5.77 and its 200 day simple moving average is $6.56. T1 Energy Inc has a 12-month low of $1.70 and a 12-month high of $12.49. The company has a current ratio of 1.30, a quick ratio of 0.90 and a debt-to-equity ratio of 3.50.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. BTIG Research raised their target price on T1 Energy from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded T1 Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Finally, Sanford C. Bernstein assumed coverage on T1 Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.12.
Check Out Our Latest Research Report on T1 Energy
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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