SG Americas Securities LLC Takes $776,000 Position in T1 Energy Inc $TE

SG Americas Securities LLC purchased a new stake in T1 Energy Inc (NYSE:TE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 176,730 shares of the utilities provider’s stock, valued at approximately $776,000. SG Americas Securities LLC owned approximately 0.06% of T1 Energy as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. acquired a new stake in T1 Energy in the 4th quarter valued at $69,894,000. Kim LLC acquired a new stake in shares of T1 Energy in the second quarter valued at about $8,816,000. Southpoint Capital Advisors LP purchased a new stake in shares of T1 Energy during the fourth quarter worth about $40,080,000. State Street Corp purchased a new stake in shares of T1 Energy during the fourth quarter worth about $34,386,000. Finally, Geode Capital Management LLC acquired a new position in shares of T1 Energy during the 4th quarter worth about $23,948,000. 52.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TE. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a report on Tuesday, May 12th. BTIG Research boosted 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. Wall Street Zen cut shares of T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, T1 Energy currently has a consensus rating of “Moderate Buy” and an average target price of $9.12.

Insider Buying and Selling at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction 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 approximately $249,512,684.96. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.44% of the company’s stock.

T1 Energy Stock Performance

Shares of TE opened at $7.78 on Tuesday. T1 Energy Inc has a 1 year low of $1.15 and a 1 year high of $12.49. The stock has a market capitalization of $2.17 billion, a PE ratio of -3.85 and a beta of 2.16. 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 stock has a 50-day simple moving average of $8.14 and a 200-day simple moving average of $7.22.

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 firm had revenue of $177.65 million for the quarter. During the same period last year, the business earned ($0.11) EPS. On average, analysts predict that T1 Energy Inc will post -0.2 earnings per share 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.