T1 Energy (NYSE:TE) Major Shareholder Sells $77,330,000.00 in Stock

T1 Energy Inc (NYSE:TE) 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 sale, the insider directly owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. This trade represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Solar (Schweiz) Ag Trina also recently made the following trade(s):

• On Thursday, May 21st, Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00.

T1 Energy Price Performance

TE traded up $2.41 during trading on Tuesday, hitting $10.49. 71,847,538 shares of the stock traded hands, compared to its average volume of 22,137,811. T1 Energy Inc has a twelve month low of $1.03 and a twelve month high of $10.80. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -5.17 and a beta of 1.78. 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 business has a 50 day moving average price of $5.86 and a 200 day moving average price of $6.17.

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 analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.The firm had revenue of $177.65 million for the quarter. During the same period in the prior year, the business posted ($0.11) EPS. Equities research analysts forecast that T1 Energy Inc will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On T1 Energy

Large investors have recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in shares of T1 Energy in the fourth quarter valued at approximately $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the 4th quarter worth approximately $30,000. Strs Ohio bought a new stake in T1 Energy during the 4th quarter worth approximately $32,000. Russell Investments Group Ltd. acquired a new position in T1 Energy in the 4th quarter valued at approximately $63,000. Finally, Elevatus Welath Management acquired a new position in T1 Energy in the 4th quarter valued at approximately $67,000. 52.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TE. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. BTIG Research upped their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

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.