Maridea Wealth Management LLC Makes New Investment in T1 Energy Inc $TE

Maridea Wealth Management LLC bought a new position in shares of T1 Energy Inc (NYSE:TE) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 217,792 shares of the utilities provider’s stock, valued at approximately $956,000. Maridea Wealth Management LLC owned about 0.08% of T1 Energy as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Strs Ohio bought a new stake in shares of T1 Energy during the 1st quarter valued at $26,000. Envestnet Asset Management Inc. bought a new position in shares of T1 Energy in the 2nd quarter worth $27,000. NBC Securities Inc. acquired a new stake in shares of T1 Energy during the fourth quarter worth $28,000. First PREMIER Bank acquired a new stake in shares of T1 Energy during the fourth quarter worth $30,000. Finally, Sovereign Financial Group Inc. bought a new stake in T1 Energy in the first quarter valued at about $48,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

Insider Activity at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the transaction, the insider owned 30,652,664 shares in the company, valued at $249,512,684.96. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.44% of the stock is currently owned by corporate insiders.

T1 Energy Price Performance

TE opened at $8.27 on Friday. The stock has a market cap of $2.31 billion, a P/E ratio of -4.07 and a beta of 2.14. T1 Energy Inc has a 12 month low of $1.15 and a 12 month high of $12.49. 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 company has a fifty day simple moving average of $7.69 and a 200 day simple moving average of $7.08.

T1 Energy (NYSE:TE) last posted its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate 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 for the quarter. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. On average, research analysts expect that T1 Energy Inc will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a research report on Tuesday, May 12th. BTIG Research increased their price target on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Northland Securities initiated 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 on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.12.

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.