Investors Buy Large Volume of T1 Energy Call Options (NYSE:TE)

T1 Energy Inc (NYSE:TE) saw some unusual options trading on Tuesday. Traders acquired 77,171 call options on the stock. This is an increase of 165% compared to the typical volume of 29,166 call options.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research 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. BTIG Research raised their price target on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Northland Securities assumed coverage on shares of T1 Energy in a research report on Wednesday. They issued an “outperform” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

Insider Buying and Selling at T1 Energy

In other T1 Energy 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 shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the sale, the insider directly owned 30,652,664 shares in the company, valued at $249,512,684.96. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 22.44% of the company’s stock.

Institutional Trading of T1 Energy

Several institutional investors have recently made changes to their positions in TE. Vanguard Group Inc. acquired a new stake in shares of T1 Energy during the 4th quarter valued at about $69,894,000. Situational Awareness LP acquired a new stake in shares of T1 Energy during the 1st quarter valued at about $43,900,000. Renaissance Technologies LLC boosted its position in shares of T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares in the last quarter. Kim LLC bought a new position in T1 Energy during the 2nd quarter valued at about $8,816,000. Finally, Southpoint Capital Advisors LP bought a new position in T1 Energy during the 4th quarter valued at about $40,080,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

T1 Energy Price Performance

Shares of T1 Energy stock opened at $11.56 on Thursday. 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 firm’s 50-day simple moving average is $6.30 and its 200-day simple moving average is $6.46. T1 Energy has a twelve month low of $1.06 and a twelve month high of $12.37. The firm has a market cap of $3.23 billion, a P/E ratio of -5.69 and a beta of 2.14.

T1 Energy (NYSE:TE) last issued 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. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The business had revenue of $177.65 million for the quarter. During the same quarter last year, the firm posted ($0.11) earnings per share. As a group, research analysts expect that T1 Energy will post -0.29 EPS for the current fiscal year.

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.