DNB Asset Management AS Acquires Shares of 149,022 T1 Energy Inc $TE

DNB Asset Management AS acquired a new stake in T1 Energy Inc (NYSE:TE) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 149,022 shares of the utilities provider’s stock, valued at approximately $995,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in T1 Energy in the 4th quarter valued at about $69,894,000. Kim LLC purchased a new stake in T1 Energy in the 2nd quarter valued at about $8,816,000. Invesco Ltd. purchased a new stake in T1 Energy in the 2nd quarter valued at about $3,862,000. Geode Capital Management LLC purchased a new stake in T1 Energy in the 2nd quarter valued at about $3,296,000. Finally, Halter Ferguson Financial Inc. purchased a new stake in T1 Energy in the 4th quarter valued at about $8,504,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Trading Up 25.7%

Shares of TE stock opened at $8.65 on Thursday. The company has a 50 day moving average of $5.78 and a 200-day moving average of $6.02. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. T1 Energy Inc has a 12-month low of $0.96 and a 12-month high of $9.78. The firm has a market cap of $2.42 billion, a P/E ratio of -4.26 and a beta of 1.78.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $177.65 million during the quarter. During the same quarter in the previous year, the business earned ($0.11) EPS. Sell-side analysts anticipate that T1 Energy Inc will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TE shares. BTIG Research increased their price objective 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. Zacks Research lowered shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

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.