Traders Purchase High Volume of T1 Energy Call Options (NYSE:TE)

T1 Energy Inc (NYSE:TE) saw some unusual options trading on Thursday. Stock traders purchased 53,897 call options on the company. This is an increase of 34% compared to the average daily volume of 40,104 call options.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a research note on Tuesday, May 12th. Northland Securities assumed coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Wall Street Zen cut shares of T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Finally, BTIG Research lifted their target price on shares of T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.12.

Insider Activity

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy 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 directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. The trade was a 23.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T1 Energy

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

T1 Energy Stock Performance

NYSE:TE opened at $9.16 on Thursday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -4.51 and a beta of 2.16. T1 Energy has a fifty-two week low of $1.15 and a fifty-two week high of $12.49. 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 fifty day moving average price of $7.94 and a 200-day moving average price of $7.15.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The company 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 quarter in the previous year, the business posted ($0.11) EPS. As a group, equities analysts anticipate that T1 Energy 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.