T1 Energy Sees Unusually High Options Volume (NYSE:TE)

T1 Energy Inc (NYSE:TE) was the target of unusually large options trading on Tuesday. Stock traders acquired 77,171 call options on the stock. This represents an increase of 165% compared to the average daily volume of 29,166 call options.

Analysts Set New Price Targets

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

Insider Buying and Selling at T1 Energy

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

Hedge Funds Weigh In On T1 Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC purchased a new stake in shares of T1 Energy during the fourth quarter worth about $2,637,000. Kim LLC purchased a new stake in shares of T1 Energy during the fourth quarter worth about $8,684,000. DNB Asset Management AS purchased a new stake in shares of T1 Energy during the fourth quarter worth about $995,000. Vanguard Group Inc. purchased a new stake in shares of T1 Energy during the fourth quarter worth about $69,894,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of T1 Energy during the fourth quarter worth about $1,298,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Stock Up 16.6%

TE traded up $1.72 on Tuesday, hitting $12.10. The company had a trading volume of 32,359,760 shares, compared to its average volume of 40,179,216. The stock has a fifty day moving average price of $6.10 and a 200-day moving average price of $6.35. T1 Energy has a 12-month low of $1.03 and a 12-month high of $11.43. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -5.26 and a beta of 2.13.

T1 Energy (NYSE:TE) last posted its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $177.65 million for the quarter. During the same quarter last year, the firm earned ($0.11) EPS. Analysts predict that T1 Energy will post -0.29 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.