Ardsley Advisory Partners LP Takes Position in T1 Energy Inc $TE

Ardsley Advisory Partners LP purchased a new stake in T1 Energy Inc (NYSE:TE) during the fourth quarter, Holdings Channel reports. The fund purchased 465,000 shares of the utilities provider’s stock, valued at approximately $3,097,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new position in T1 Energy in the 4th quarter valued at approximately $28,000. First PREMIER Bank acquired a new position in T1 Energy during the 4th quarter worth approximately $30,000. Strs Ohio acquired a new position in shares of T1 Energy in the 4th quarter valued at $32,000. Russell Investments Group Ltd. acquired a new position in shares of T1 Energy in the 4th quarter valued at $63,000. Finally, Elevatus Welath Management acquired a new position in shares of T1 Energy in the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TE. Sanford C. Bernstein began coverage on shares of T1 Energy in a research note on Tuesday. They set a “market perform” rating and a $9.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Northland Securities initiated coverage on shares of T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, BTIG Research raised their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.13.

Insider Buying and Selling

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $8.69, for a total value of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.44% of the company’s stock.

T1 Energy Trading Up 5.3%

Shares of TE stock opened at $9.09 on Thursday. The firm has a market cap of $2.54 billion, a P/E ratio of -4.48 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 company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The firm’s 50-day simple moving average is $7.06 and its 200-day simple moving average is $6.87.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.13. The business 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 company earned ($0.11) earnings per share. As a group, equities analysts forecast that T1 Energy Inc will post -0.2 EPS for the current 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.