T1 Energy (NYSE:TE) Major Shareholder Solar (Schweiz) Ag Trina Sells 9,500,000 Shares

T1 Energy Inc (NYSE:TE) major shareholder Solar (Schweiz) Ag Trina sold 9,500,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $8.14, for a total transaction of $77,330,000.00. Following the completion of the transaction, the insider directly owned 30,652,664 shares in the company, valued at $249,512,684.96. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Solar (Schweiz) Ag Trina also recently made the following trade(s):

• On Thursday, May 21st, Solar (Schweiz) Ag Trina sold 13,000,000 shares of T1 Energy stock. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00.

T1 Energy Stock Performance

TE traded up $2.41 on Tuesday, reaching $10.49. The company had a trading volume of 71,847,538 shares, compared to its average volume of 22,137,811. The stock has a market cap of $2.93 billion, a P/E ratio of -5.17 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. T1 Energy Inc has a fifty-two week low of $1.03 and a fifty-two week high of $10.80. The company’s fifty day moving average is $5.86 and its 200 day moving average is $6.17.

T1 Energy (NYSE:TE) last issued its quarterly earnings data 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 firm had revenue of $177.65 million during the quarter. During the same quarter last year, the business earned ($0.11) earnings per share. As a group, analysts predict that T1 Energy Inc will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of T1 Energy

A number of institutional investors have recently modified their holdings of the stock. 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 second quarter worth $27,000. Geode Capital Management LLC acquired a new position in T1 Energy in the second quarter valued at about $3,296,000. Cetera Investment Advisers acquired a new position in T1 Energy in the second quarter valued at about $162,000. Finally, JPMorgan Chase & Co. bought a new stake in T1 Energy during the second quarter worth about $71,000. 52.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TE shares. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. 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. BTIG Research boosted their price objective on shares of T1 Energy from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.00.

T1 Energy Company Profile

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.