Ardsley Advisory Partners LP Buys New Shares in T1 Energy Inc $TE

Ardsley Advisory Partners LP purchased a new position in T1 Energy Inc (NYSE:TE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 465,000 shares of the utilities provider’s stock, valued at approximately $3,097,000. Ardsley Advisory Partners LP owned approximately 0.22% of T1 Energy as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC bought a new stake in shares of T1 Energy in the 4th quarter worth about $2,637,000. Kim LLC bought a new position in T1 Energy during the 4th quarter valued at about $8,684,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in T1 Energy in the 4th quarter worth about $1,298,000. Vanguard Group Inc. bought a new position in T1 Energy in the 4th quarter worth about $69,894,000. Finally, DNB Asset Management AS bought a new position in T1 Energy in the 4th quarter worth about $995,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TE shares. Northland Securities started coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price objective on the stock. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein began coverage on shares of T1 Energy in a report on Tuesday. They issued a “market perform” rating and a $9.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.13.

Insider Buying and Selling

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock in a transaction dated 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 transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.44% of the stock is owned by company insiders.

T1 Energy Stock Performance

TE opened at $9.09 on Thursday. The firm has a market capitalization of $2.54 billion, a PE ratio of -4.48 and a beta of 2.14. T1 Energy Inc has a twelve month low of $1.15 and a twelve month high of $12.49. The firm’s 50-day moving average price is $7.06 and its 200 day moving average price is $6.87. 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 (NYSE:TE) last posted its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping 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 in the previous year, the firm posted ($0.11) earnings per share. As a group, sell-side analysts expect that T1 Energy Inc will post -0.2 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.