Kim LLC Takes $8.68 Million Position in T1 Energy Inc $TE

Kim LLC purchased a new position in T1 Energy Inc (NYSE:TE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,300,000 shares of the utilities provider’s stock, valued at approximately $8,684,000. T1 Energy makes up approximately 0.7% of Kim LLC’s portfolio, making the stock its 26th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC bought a new position in shares of T1 Energy in the 4th quarter worth $2,637,000. Pekin Hardy Strauss Inc. bought a new position in shares of T1 Energy in the fourth quarter valued at $107,000. Wealthfront Advisers LLC bought a new position in shares of T1 Energy in the fourth quarter valued at $82,000. Kestra Private Wealth Services LLC acquired a new position in shares of T1 Energy during the fourth quarter valued at about $175,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of T1 Energy during the fourth quarter worth about $230,000. Institutional investors own 52.31% of the company’s stock.

Wall Street Analysts Forecast Growth

TE has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Needham & Company LLC decreased their price objective on T1 Energy from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, Zacks Research downgraded T1 Energy from a “hold” rating to a “strong sell” rating in a report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.83.

T1 Energy Stock Down 1.9%

T1 Energy stock opened at $4.80 on Friday. T1 Energy Inc has a fifty-two week low of $0.93 and a fifty-two week high of $9.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.43. The firm’s 50-day simple moving average is $5.94 and its 200 day simple moving average is $5.82. The stock has a market cap of $1.34 billion, a PE ratio of -2.33 and a beta of 1.82.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Tuesday, March 31st. The utilities provider reported ($0.87) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.90). T1 Energy had a negative net margin of 48.11% and a negative return on equity of 173.39%. The firm had revenue of $358.55 million during the quarter. During the same period last year, the business posted ($2.59) EPS. Research analysts predict that T1 Energy Inc will post -0.47 EPS for the current fiscal year.

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.