Electron Capital Partners LLC Acquires 2,429,564 Shares of T1 Energy Inc $TE

Electron Capital Partners LLC boosted its holdings in T1 Energy Inc (NYSE:TE) by 69.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,929,585 shares of the utilities provider’s stock after buying an additional 2,429,564 shares during the period. T1 Energy makes up about 1.0% of Electron Capital Partners LLC’s investment portfolio, making the stock its 24th biggest position. Electron Capital Partners LLC owned approximately 2.12% of T1 Energy worth $26,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TE. Renaissance Technologies LLC raised its position in shares of T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of T1 Energy during the fourth quarter worth $69,894,000. Kim LLC bought a new stake in T1 Energy in the second quarter valued at about $8,816,000. Southpoint Capital Advisors LP bought a new stake in T1 Energy in the fourth quarter valued at about $40,080,000. Finally, State Street Corp acquired a new position in T1 Energy in the fourth quarter valued at about $34,386,000. 52.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TE has been the topic of a number of recent analyst reports. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of T1 Energy in a report on Wednesday, July 8th. BTIG Research upped their target price on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Sanford C. Bernstein started coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.12.

Insider Buying and Selling

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the completion of the transaction, the insider owned 30,652,664 shares of the company’s stock, valued at $249,512,684.96. This represents a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 22.44% of the company’s stock.

T1 Energy Price Performance

TE stock opened at $4.89 on Tuesday. The stock has a 50-day moving average price of $8.36 and a two-hundred day moving average price of $7.17. T1 Energy Inc has a 1 year low of $1.15 and a 1 year high of $12.49. The stock has a market cap of $1.37 billion, a PE ratio of -2.41 and a beta of 2.16. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05.

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

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.