Renaissance Technologies LLC Boosts Stock Position in T1 Energy Inc $TE

Renaissance Technologies LLC increased its holdings in T1 Energy Inc (NYSE:TE) by 232.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,858,306 shares of the utilities provider’s stock after purchasing an additional 8,289,050 shares during the period. Renaissance Technologies LLC owned approximately 4.25% of T1 Energy worth $52,058,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TE. Strs Ohio purchased a new position in shares of T1 Energy in the 1st quarter worth $26,000. Envestnet Asset Management Inc. purchased a new stake in shares of T1 Energy during the 2nd quarter valued at about $27,000. NBC Securities Inc. purchased a new stake in shares of T1 Energy during the 4th quarter valued at about $28,000. First PREMIER Bank bought a new position in shares of T1 Energy in the 4th quarter valued at about $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in shares of T1 Energy in the 1st quarter valued at about $44,000. Institutional investors own 52.31% of the company’s stock.

T1 Energy Price Performance

TE stock opened at $4.99 on Monday. The stock has a market cap of $1.39 billion, a PE ratio of -2.46 and a beta of 2.16. T1 Energy Inc has a 12 month low of $1.15 and a 12 month high of $12.49. The company has a 50-day moving average price of $8.40 and a 200 day moving average price of $7.19. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05.

T1 Energy (NYSE:TE) last posted its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. The company had revenue of $177.65 million for the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same period last year, the company earned ($0.11) earnings per share. Equities research analysts anticipate that T1 Energy Inc will post -0.2 earnings per share for the current year.

Insider Activity at T1 Energy

In other news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the sale, the insider directly owned 40,152,664 shares in the company, valued at approximately $348,926,650.16. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of T1 Energy in a research report on Wednesday, July 8th. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of T1 Energy in a research report on Tuesday, May 12th. Northland Securities started coverage on T1 Energy in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Wall Street Zen cut T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Finally, Sanford C. Bernstein began coverage on T1 Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.12.

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.