77,960 Shares in T1 Energy Inc $TE Bought by ProShare Advisors LLC

ProShare Advisors LLC bought a new position in T1 Energy Inc (NYSE:TE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 77,960 shares of the utilities provider’s stock, valued at approximately $521,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TE. Strs Ohio bought a new position in T1 Energy in the first quarter worth $26,000. Envestnet Asset Management Inc. bought a new position in T1 Energy in the second quarter worth $27,000. Geode Capital Management LLC bought a new position in T1 Energy in the second quarter worth $3,296,000. Cetera Investment Advisers bought a new position in T1 Energy in the second quarter worth $162,000. Finally, JPMorgan Chase & Co. acquired a new position in T1 Energy during the second quarter worth $71,000. 52.31% of the stock is owned by institutional investors.

Insider Buying and Selling at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00. Following the completion of the sale, the insider directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 22.44% of the company’s stock.

Wall Street Analyst Weigh In

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

T1 Energy Stock Performance

Shares of NYSE:TE opened at $10.83 on Friday. T1 Energy Inc has a twelve month low of $1.03 and a twelve month high of $11.43. The firm has a market cap of $3.02 billion, a PE ratio of -5.34 and a beta of 1.78. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The business has a fifty day moving average of $5.98 and a 200-day moving average of $6.27.

T1 Energy (NYSE:TE) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The company had revenue of $177.65 million during the quarter. During the same quarter last year, the business posted ($0.11) earnings per share. On average, equities research analysts predict that T1 Energy Inc will post -0.29 EPS for the current fiscal year.

T1 Energy 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.