Caitong International Asset Management Co. Ltd Makes New Investment in T1 Energy Inc $TE

Caitong International Asset Management Co. Ltd purchased a new position in T1 Energy Inc (NYSE:TE) during the fourth quarter, Holdings Channel reports. The fund purchased 300,503 shares of the utilities provider’s stock, valued at approximately $2,007,000.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of T1 Energy in the 4th quarter worth approximately $28,000. First PREMIER Bank bought a new stake in shares of T1 Energy during the 4th quarter valued at $30,000. Strs Ohio bought a new stake in shares of T1 Energy during the 4th quarter valued at $32,000. Russell Investments Group Ltd. purchased a new stake in shares of T1 Energy in the 4th quarter worth about $63,000. Finally, Elevatus Welath Management bought a new position in shares of T1 Energy in the 4th quarter worth about $67,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

T1 Energy Price Performance

Shares of NYSE:TE opened at $9.29 on Friday. The company has a market capitalization of $2.60 billion, a P/E ratio of -4.58 and a beta of 2.14. T1 Energy Inc has a 1-year low of $1.15 and a 1-year high of $12.49. The firm’s 50 day simple moving average is $7.27 and its two-hundred day simple moving average is $6.93. 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, 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 company had revenue of $177.65 million during the quarter. During the same period in the previous year, the business posted ($0.11) earnings per share. Research analysts expect that T1 Energy Inc will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

TE has been the subject of a number of recent research reports. BTIG Research lifted their price objective on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of T1 Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Sanford C. Bernstein initiated coverage on shares of T1 Energy in a research note on Tuesday. They set a “market perform” rating and a $9.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus 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 the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total value of $77,330,000.00. Following the transaction, the insider directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.