Solar (Schweiz) Ag Trina Sells 13,000,000 Shares of T1 Energy (NYSE:TE) Stock

T1 Energy Inc (NYSE:TE) major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares of the company’s stock, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, May 22nd, Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock. The stock was sold at an average price of $8.14, for a total value of $77,330,000.00.

T1 Energy Stock Performance

Shares of T1 Energy stock opened at $10.86 on Thursday. T1 Energy Inc has a one year low of $1.03 and a one year high of $11.28. The company has a market cap of $3.03 billion, a PE ratio of -5.35 and a beta of 1.78. 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 business has a 50-day simple moving average of $5.92 and a 200-day simple moving average of $6.21.

T1 Energy (NYSE:TE) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping 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 business had revenue of $177.65 million during the quarter. During the same period in the prior year, the firm posted ($0.11) earnings per share. On average, equities research analysts forecast that T1 Energy Inc will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TE. Strs Ohio purchased a new stake in T1 Energy in the first quarter valued at approximately $26,000. Envestnet Asset Management Inc. purchased a new stake in T1 Energy in the second quarter valued at approximately $27,000. NBC Securities Inc. purchased a new stake in T1 Energy in the fourth quarter valued at approximately $28,000. First PREMIER Bank purchased a new stake in T1 Energy in the fourth quarter valued at approximately $30,000. Finally, Blackhawk Capital Partners LLC purchased a new stake in T1 Energy in the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Analysts Set New Price Targets

TE has been the subject of several recent analyst reports. BTIG Research boosted their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.