T1 Energy (NYSE:TE) Major Shareholder Solar (Schweiz) Ag Trina Sells 13,000,000 Shares of Stock

T1 Energy Inc (NYSE:TE) major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Solar (Schweiz) Ag Trina also recently made the following trade(s):

• On Friday, May 22nd, Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00.

T1 Energy Trading Up 29.8%

Shares of NYSE:TE opened at $10.49 on Wednesday. The company has a market cap of $2.93 billion, a P/E ratio of -5.17 and a beta of 1.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. T1 Energy Inc has a 1 year low of $1.03 and a 1 year high of $10.80. The stock’s fifty day moving average price is $5.86 and its 200-day moving average price is $6.17.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating 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 return on equity of 150.51% and a negative net margin of 42.30%.During the same period in the previous year, the company earned ($0.11) earnings per share. Sell-side analysts expect that T1 Energy Inc will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TE shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Finally, BTIG Research increased their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TE. Strs Ohio bought a new position in T1 Energy in the first quarter valued at about $26,000. Envestnet Asset Management Inc. bought a new position in T1 Energy in the second quarter valued at about $27,000. NBC Securities Inc. bought a new position in T1 Energy in the fourth quarter valued at about $28,000. First PREMIER Bank bought a new position in T1 Energy in the fourth quarter valued at about $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in T1 Energy in the first quarter worth approximately $44,000. Institutional investors own 52.31% of the company’s stock.

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.