Solar (Schweiz) Ag Trina Sells 9,500,000 Shares of T1 Energy (NYSE:TE) Stock

T1 Energy Inc (NYSE:TE) major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the stock in a transaction 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 transaction, the insider directly owned 30,652,664 shares in the company, valued at approximately $249,512,684.96. This represents a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, May 21st, Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00.

T1 Energy Price Performance

Shares of T1 Energy stock opened at $10.86 on Thursday. The firm has a market cap of $3.03 billion, a PE ratio of -5.35 and a beta of 1.78. T1 Energy Inc has a 12-month low of $1.03 and a 12-month high of $11.28. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The company’s fifty day simple moving average is $5.92 and its two-hundred day simple moving average is $6.21.

T1 Energy (NYSE:TE) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The business had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period last year, the business earned ($0.11) EPS. As a group, equities analysts expect that T1 Energy Inc will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

TE has been the topic of a number of recent analyst reports. 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. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. BTIG Research raised their price target 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. Finally, Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Institutional Investors Weigh In On T1 Energy

A number of large investors have recently modified their holdings of TE. Strs Ohio bought a new stake in shares of T1 Energy during the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy during the 2nd quarter valued at about $27,000. NBC Securities Inc. bought a new stake in shares of T1 Energy during the 4th quarter valued at about $28,000. First PREMIER Bank bought a new stake in shares of T1 Energy during the 4th quarter valued at about $30,000. Finally, Blackhawk Capital Partners LLC bought a new stake in shares of T1 Energy during the 1st quarter valued at about $44,000. Institutional investors own 52.31% of the company’s stock.

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.