Electron Capital Partners LLC Makes New $23.38 Million Investment in T1 Energy Inc $TE

by · The Markets Daily

Electron Capital Partners LLC bought a new position in shares of T1 Energy Inc (NYSE:TE – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,500,021 shares of the utilities provider’s stock, valued at approximately $23,380,000. T1 Energy comprises 1.1% of Electron Capital Partners LLC’s holdings, making the stock its 27th largest holding. Electron Capital Partners LLC owned about 1.65% of T1 Energy as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TE. Strs Ohio bought a new position in T1 Energy during the 1st quarter worth approximately $26,000. Envestnet Asset Management Inc. bought a new position in T1 Energy during the 2nd quarter worth approximately $27,000. Geode Capital Management LLC bought a new position in T1 Energy during the 2nd quarter worth approximately $3,296,000. Cetera Investment Advisers bought a new stake in shares of T1 Energy in the 2nd quarter worth approximately $162,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of T1 Energy in the 2nd quarter worth approximately $71,000. Institutional investors own 52.31% of the company’s stock.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TE. Northland Securities began coverage on T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target on the stock. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a report on Tuesday, May 12th. Sanford C. Bernstein began coverage on T1 Energy in a report on Tuesday. They issued a “market perform” rating and a $9.00 price target on the stock. Finally, BTIG Research raised their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.13.

Read Our Latest Stock Analysis on T1 Energy

T1 Energy Stock Up 5.3%

Shares of T1 Energy stock opened at $9.09 on Thursday. The business’s fifty day moving average price is $7.06 and its two-hundred day moving average price is $6.87. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The company has a market capitalization of $2.54 billion, a P/E ratio of -4.48 and a beta of 2.14. T1 Energy Inc has a 1-year low of $1.15 and a 1-year high of $12.49.

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 for the quarter, beating the consensus estimate of ($0.21) by $0.13. The firm 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 period in the previous year, the firm earned ($0.11) EPS. As a group, research analysts forecast that T1 Energy Inc will post -0.2 EPS for the current year.

About T1 Energy

(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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