T1 Energy Target of Unusually Large Options Trading (NYSE:TE)

T1 Energy Inc (NYSE:TE) was the target of unusually large options trading on Monday. Investors purchased 52,382 call options on the stock. This represents an increase of approximately 239% compared to the average daily volume of 15,472 call options.

Institutional Investors Weigh In On T1 Energy

Several large investors have recently added to or reduced their stakes in TE. Vanguard Group Inc. purchased a new stake in shares of T1 Energy during the 4th quarter valued at approximately $69,894,000. Situational Awareness LP purchased a new stake in shares of T1 Energy during the 1st quarter valued at approximately $43,900,000. Renaissance Technologies LLC lifted its stake in shares of T1 Energy by 232.2% during the 1st quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after buying an additional 8,289,050 shares in the last quarter. Kim LLC purchased a new stake in shares of T1 Energy during the 2nd quarter valued at approximately $8,816,000. Finally, Southpoint Capital Advisors LP purchased a new stake in shares of T1 Energy during the 4th quarter valued at approximately $40,080,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

T1 Energy Stock Performance

NYSE:TE traded down $0.65 during trading on Tuesday, reaching $6.35. The company’s stock had a trading volume of 36,422,158 shares, compared to its average volume of 19,347,367. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -3.14 and a beta of 1.78. 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 firm has a 50 day moving average of $5.75 and a 200-day moving average of $5.96. T1 Energy has a 12 month low of $0.96 and a 12 month high of $9.78.

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

Analyst Ratings Changes

Several brokerages recently issued reports on TE. BTIG Research upped their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of T1 Energy in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, Zacks Research downgraded T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.