Electron Capital Partners LLC Takes $23.38 Million Position in T1 Energy Inc $TE

Electron Capital Partners LLC purchased a new stake in shares of T1 Energy Inc (NYSE:TE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,500,021 shares of the utilities provider’s stock, valued at approximately $23,380,000. T1 Energy accounts for about 1.1% of Electron Capital Partners LLC’s investment portfolio, making the stock its 27th biggest position.

Several other hedge funds also recently modified their holdings of TE. Strs Ohio acquired a new position in shares of T1 Energy during the 1st quarter valued at $26,000. Envestnet Asset Management Inc. acquired a new position in shares of T1 Energy during the 2nd quarter valued at $27,000. NBC Securities Inc. acquired a new position in shares of T1 Energy during the 4th quarter valued at $28,000. First PREMIER Bank acquired a new position in shares of T1 Energy during the 4th quarter valued at $30,000. Finally, Bank of America Corp DE acquired a new position in shares of T1 Energy during the 2nd quarter valued at $49,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BTIG Research lifted their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded T1 Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a report on Tuesday, May 12th. Zacks Research upgraded T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Northland Securities assumed coverage on T1 Energy in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.13.

T1 Energy Stock Performance

Shares of NYSE TE opened at $9.09 on Thursday. 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 stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -4.48 and a beta of 2.14. The stock’s fifty day simple moving average is $7.06 and its 200 day simple moving average is $6.87. T1 Energy Inc has a 52-week low of $1.15 and a 52-week high of $12.49.

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 for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

Insider Activity at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was 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 trade represents a 23.66% decrease in their ownership of the stock. 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.

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.