Electron Capital Partners LLC Makes New $23.38 Million Investment in T1 Energy Inc $TE

Electron Capital Partners LLC bought a new position in shares of T1 Energy Inc (NYSE:TE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,500,021 shares of the utilities provider’s stock, valued at approximately $23,380,000. T1 Energy comprises 1.1% of Electron Capital Partners LLC’s holdings, making the stock its 27th largest holding. Electron Capital Partners LLC owned about 1.65% of T1 Energy as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TE. Strs Ohio bought a new position in T1 Energy during the 1st quarter worth approximately $26,000. Envestnet Asset Management Inc. bought a new position in T1 Energy during the 2nd quarter worth approximately $27,000. Geode Capital Management LLC bought a new position in T1 Energy during the 2nd quarter worth approximately $3,296,000. Cetera Investment Advisers bought a new stake in shares of T1 Energy in the 2nd quarter worth approximately $162,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of T1 Energy in the 2nd quarter worth approximately $71,000. Institutional investors own 52.31% of the company’s stock.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their position. The sale 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TE. Northland Securities began coverage on T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price target on the stock. Zacks Research raised 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 issued a $8.00 price target on shares of T1 Energy in a report on Tuesday, May 12th. Sanford C. Bernstein began coverage on T1 Energy in a report on Tuesday. They issued a “market perform” rating and a $9.00 price target on the stock. Finally, BTIG Research raised their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.13.

T1 Energy Stock Up 5.3%

Shares of T1 Energy stock opened at $9.09 on Thursday. The business’s fifty day moving average price is $7.06 and its two-hundred day moving average price is $6.87. 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 company has a market capitalization 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.

T1 Energy (NYSE:TE) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.13. The firm had revenue of $177.65 million for 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 previous year, the firm earned ($0.11) EPS. As a group, research analysts forecast that T1 Energy Inc will post -0.2 EPS for the current year.

About T1 Energy

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.