BNP Paribas Financial Markets Invests $9.75 Million in T1 Energy Inc $TE

BNP Paribas Financial Markets purchased a new stake in T1 Energy Inc (NYSE:TE) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,459,930 shares of the utilities provider’s stock, valued at approximately $9,752,000.

A number of other large investors also recently made changes to their positions in TE. Strs Ohio acquired a new stake in T1 Energy during the 1st quarter worth $26,000. Envestnet Asset Management Inc. acquired a new stake in shares of T1 Energy in the 2nd quarter valued at about $27,000. Geode Capital Management LLC acquired a new stake in shares of T1 Energy in the 2nd quarter valued at about $3,296,000. Cetera Investment Advisers acquired a new stake in shares of T1 Energy in the 2nd quarter valued at about $162,000. Finally, JPMorgan Chase & Co. bought a new position in shares of T1 Energy in the 2nd quarter valued at about $71,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BTIG Research raised their price objective on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a 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 report on Tuesday, May 12th. Finally, Northland Securities began coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, T1 Energy has a consensus rating of “Moderate Buy” and an average target price of $9.14.

Insider Buying and Selling

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the sale, the insider owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. The trade was a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.44% of the stock is currently owned by corporate insiders.

T1 Energy Stock Down 3.3%

Shares of TE opened at $9.12 on Tuesday. T1 Energy Inc has a one year low of $1.15 and a one year high of $12.49. The company has a market cap of $2.55 billion, a P/E ratio of -4.49 and a beta of 2.14. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $6.52 and a two-hundred day simple moving average of $6.60.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) EPS 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 during the quarter. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Research analysts forecast 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.