AXQ Capital LP Invests $410,000 in T1 Energy Inc $TE

AXQ Capital LP bought a new position in shares of T1 Energy Inc (NYSE:TE) in the 4th quarter, Holdings Channel reports. The fund bought 61,306 shares of the utilities provider’s stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in T1 Energy in the fourth quarter worth $69,894,000. Kim LLC purchased a new stake in shares of T1 Energy in the 2nd quarter worth approximately $8,816,000. Geode Capital Management LLC purchased a new position in shares of T1 Energy in the 4th quarter worth $23,948,000. Invesco Ltd. bought a new position in T1 Energy in the 2nd quarter worth $3,862,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of T1 Energy during the fourth quarter valued at about $9,752,000. Institutional investors own 52.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TE shares. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. BTIG Research lifted their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Northland Securities initiated coverage on shares of T1 Energy in a research note on Wednesday. They set an “outperform” rating and a $16.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, T1 Energy has an average rating of “Moderate Buy” and an average price target of $9.14.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the completion of the transaction, the insider owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. The trade was a 24.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.44% of the stock is currently owned by company insiders.

T1 Energy Price Performance

NYSE TE opened at $11.66 on Friday. The firm’s fifty day simple moving average is $6.41 and its two-hundred day simple moving average is $6.52. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. T1 Energy Inc has a 12-month low of $1.06 and a 12-month high of $12.49. The firm has a market capitalization of $3.26 billion, a P/E ratio of -5.74 and a beta of 2.14.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping 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 during the quarter. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Analysts forecast that T1 Energy Inc will post -0.29 EPS for the current fiscal year.

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.