T1 Energy (NYSE:TE) Major Shareholder Solar (Schweiz) Ag Trina Sells 9,500,000 Shares

T1 Energy Inc (NYSE:TE) major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the sale, the insider owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, May 21st, Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00.

T1 Energy Stock Up 29.8%

TE stock opened at $10.49 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The firm has a 50 day simple moving average of $5.86 and a 200-day simple moving average of $6.17. The company has a market capitalization of $2.93 billion, a P/E ratio of -5.17 and a beta of 1.78. T1 Energy Inc has a twelve month low of $1.03 and a twelve month high of $10.80.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) 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 net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter last year, the company earned ($0.11) earnings per share. On average, equities research analysts predict that T1 Energy Inc will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On T1 Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. acquired a new position in T1 Energy in the fourth quarter valued at approximately $28,000. First PREMIER Bank acquired a new position in T1 Energy in the fourth quarter valued at approximately $30,000. Strs Ohio acquired a new position in T1 Energy in the fourth quarter valued at approximately $32,000. Russell Investments Group Ltd. acquired a new position in T1 Energy in the fourth quarter valued at approximately $63,000. Finally, Elevatus Welath Management acquired a new position in T1 Energy in the fourth quarter valued at approximately $67,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.