SG Americas Securities LLC Makes New $776,000 Investment in T1 Energy Inc $TE

SG Americas Securities LLC bought a new stake in T1 Energy Inc (NYSE:TE) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 176,730 shares of the utilities provider’s stock, valued at approximately $776,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TE. Strs Ohio acquired a new position in T1 Energy during the first quarter worth approximately $26,000. Envestnet Asset Management Inc. purchased a new position in shares of T1 Energy during the second quarter worth about $27,000. Geode Capital Management LLC acquired a new position in T1 Energy in the 2nd quarter valued at about $3,296,000. Cetera Investment Advisers acquired a new position in T1 Energy in the 2nd quarter valued at about $162,000. Finally, JPMorgan Chase & Co. purchased a new stake in T1 Energy during the 2nd quarter valued at approximately $71,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

T1 Energy Stock Performance

NYSE:TE opened at $7.78 on Tuesday. T1 Energy Inc has a twelve month low of $1.15 and a twelve month high of $12.49. The firm has a 50-day moving average price of $8.14 and a two-hundred day moving average price of $7.22. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $2.17 billion, a P/E ratio of -3.85 and a beta of 2.16.

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

Insider Transactions at T1 Energy

In related news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were 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 owned 30,652,664 shares of the company’s stock, valued at approximately $249,512,684.96. This represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.44% of the company’s stock.

Wall Street Analysts Forecast Growth

TE has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of T1 Energy in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of T1 Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, BTIG Research raised their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, T1 Energy has a consensus rating of “Moderate Buy” and an average target price of $9.12.

T1 Energy 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.