Counterpoint Mutual Funds LLC Purchases New Position in T1 Energy Inc $TE

Counterpoint Mutual Funds LLC purchased a new stake in T1 Energy Inc (NYSE:TE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,031,648 shares of the utilities provider’s stock, valued at approximately $4,529,000. Counterpoint Mutual Funds LLC owned 0.37% of T1 Energy at the end of the most recent quarter.

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

Analyst Ratings Changes

TE has been the subject of a number of analyst reports. Sanford C. Bernstein began coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price objective for the company. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. BTIG Research lifted their price target on T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Northland Securities initiated coverage on T1 Energy in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target 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 assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, T1 Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.12.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy 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 sale, the insider owned 30,652,664 shares in the company, valued at $249,512,684.96. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.44% of the stock is currently owned by company insiders.

T1 Energy Trading Up 0.2%

Shares of NYSE:TE opened at $8.57 on Friday. The business’s 50 day moving average price is $8.07 and its 200-day moving average price is $7.18. T1 Energy Inc has a 1 year low of $1.15 and a 1 year high of $12.49. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -4.22 and a beta of 2.16. 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 issued its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.13. The company had revenue of $177.65 million during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period in the previous year, the firm posted ($0.11) EPS. On average, equities research analysts forecast 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.