Stock Traders Buy Large Volume of T1 Energy Call Options (NYSE:TE)

T1 Energy Inc (NYSE:TE) was the recipient of unusually large options trading on Thursday. Investors acquired 53,897 call options on the stock. This represents an increase of 34% compared to the average volume of 40,104 call options.

Insiders Place Their Bets

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider directly owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. This represents a 24.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 22.44% of the stock is currently owned by company insiders.

Institutional Trading of T1 Energy

Several large investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of T1 Energy during the first quarter worth $26,000. Envestnet Asset Management Inc. purchased a new stake in T1 Energy in the second quarter valued at $27,000. NBC Securities Inc. purchased a new stake in T1 Energy in the fourth quarter valued at $28,000. First PREMIER Bank acquired a new stake in T1 Energy during the 4th quarter worth about $30,000. Finally, Blackhawk Capital Partners LLC acquired a new stake in T1 Energy during the 1st quarter worth about $44,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TE has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Wall Street Zen cut shares of T1 Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, BTIG Research upped their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.12.

T1 Energy Stock Performance

Shares of TE stock traded up $0.01 during mid-day trading on Friday, reaching $8.57. The stock had a trading volume of 36,425,573 shares, compared to its average volume of 34,332,860. The business’s fifty day moving average is $8.01 and its 200-day moving average is $7.17. 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 market cap of $2.39 billion, a price-to-earnings ratio of -4.22 and a beta of 2.16. T1 Energy has a 1-year low of $1.15 and a 1-year high of $12.49.

T1 Energy (NYSE:TE) last released 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. The firm 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 firm earned ($0.11) EPS. On average, research analysts forecast that T1 Energy will post -0.2 earnings per share for the current year.

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.