T1 Energy Target of Unusually High Options Trading (NYSE:TE)

T1 Energy Inc (NYSE:TE) was the target of unusually large options trading activity on Monday. Traders bought 52,382 call options on the stock. This represents an increase of approximately 239% compared to the typical volume of 15,472 call options.

T1 Energy Stock Performance

Shares of TE stock opened at $6.89 on Wednesday. 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 firm has a fifty day moving average price of $5.75 and a 200 day moving average price of $5.99. The company has a market cap of $1.92 billion, a P/E ratio of -3.40 and a beta of 1.78. T1 Energy has a 12 month low of $0.96 and a 12 month high of $9.78.

T1 Energy (NYSE:TE) last issued its 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. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. The firm had revenue of $177.65 million during the quarter. During the same quarter in the previous year, the firm posted ($0.11) EPS. Sell-side analysts predict that T1 Energy will post -0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TE shares. BTIG Research boosted their target price on shares of 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 reiterated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a research note on Tuesday, May 12th. Finally, Zacks Research downgraded shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, T1 Energy presently has an average rating of “Moderate Buy” and an average price target of $8.00.

Hedge Funds Weigh In On T1 Energy

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares in the last quarter. Vanguard Group Inc. acquired a new position in T1 Energy in the fourth quarter valued at $69,894,000. Situational Awareness LP acquired a new position in T1 Energy in the first quarter valued at $43,900,000. Kim LLC acquired a new position in T1 Energy in the second quarter valued at $8,816,000. Finally, Southpoint Capital Advisors LP acquired a new position in T1 Energy in the fourth quarter valued at $40,080,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

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.