Brookstone Capital Management Invests $417,000 in T1 Energy Inc $TE

Brookstone Capital Management acquired a new stake in T1 Energy Inc (NYSE:TE) during the first quarter, Holdings Channel.com reports. The firm acquired 94,952 shares of the utilities provider’s stock, valued at approximately $417,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TE. Vanguard Group Inc. bought a new stake in T1 Energy in the fourth quarter worth approximately $69,894,000. Kim LLC bought a new position in shares of T1 Energy during the 2nd quarter worth approximately $8,816,000. Southpoint Capital Advisors LP bought a new position in shares of T1 Energy during the 4th quarter worth approximately $40,080,000. State Street Corp acquired a new stake in shares of T1 Energy during the 4th quarter worth approximately $34,386,000. Finally, Geode Capital Management LLC acquired a new stake in shares of T1 Energy during the 4th quarter worth approximately $23,948,000. Institutional investors own 52.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TE shares. Sanford C. Bernstein initiated coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price objective for the company. Northland Securities began coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price on the stock. 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 report on Tuesday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.12.

T1 Energy Stock Up 0.7%

Shares of NYSE TE opened at $8.27 on Monday. The stock has a market capitalization of $2.31 billion, a P/E ratio of -4.07 and a beta of 2.13. The company has a 50-day moving average price of $7.69 and a 200-day moving average price of $7.09. T1 Energy Inc has a 1 year low of $1.15 and a 1 year high of $12.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98.

T1 Energy (NYSE:TE) last posted its 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. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The company had revenue of $177.65 million for the quarter. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities research analysts forecast that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $249,512,684.96. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.44% of the company’s stock.

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.