Counterpoint Mutual Funds LLC Makes New Investment in T1 Energy Inc $TE

Counterpoint Mutual Funds LLC bought a new stake in shares of T1 Energy Inc (NYSE:TE) in the first quarter, Holdings Channel reports. The fund bought 1,031,648 shares of the utilities provider’s stock, valued at approximately $4,529,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TE. Strs Ohio acquired a new stake in shares of T1 Energy in the first quarter worth approximately $26,000. Envestnet Asset Management Inc. acquired a new position in T1 Energy in the 2nd quarter valued at $27,000. Geode Capital Management LLC acquired a new position in T1 Energy in the 2nd quarter valued at $3,296,000. Cetera Investment Advisers purchased a new position in T1 Energy in the 2nd quarter valued at $162,000. Finally, JPMorgan Chase & Co. purchased a new position in T1 Energy in the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Sanford C. Bernstein started coverage on shares of T1 Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $9.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of T1 Energy in a research report on Tuesday, May 12th. Finally, Northland Securities started coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, T1 Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.12.

Insider Buying and Selling at T1 Energy

In other 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 value 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 $249,512,684.96. This represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 22.44% of the stock is currently owned by company insiders.

T1 Energy Stock Performance

Shares of T1 Energy stock opened at $8.57 on Friday. T1 Energy Inc has a one year low of $1.15 and a one year high of $12.49. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -4.22 and a beta of 2.16. 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 business’s 50 day moving average price is $8.07 and its 200 day moving average price is $7.18.

T1 Energy (NYSE:TE) last issued its 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 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 period last year, the business earned ($0.11) earnings per share. On average, research analysts predict that T1 Energy Inc will post -0.2 EPS for the current 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.