Vanguard Group Inc. Acquires New Shares in T1 Energy Inc $TE

Vanguard Group Inc. bought a new position in shares of T1 Energy Inc (NYSE:TE) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,463,192 shares of the utilities provider’s stock, valued at approximately $69,894,000. Vanguard Group Inc. owned approximately 4.93% of T1 Energy at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Kim LLC bought a new position in T1 Energy during the 2nd quarter worth about $8,816,000. Invesco Ltd. bought a new position in T1 Energy during the 2nd quarter worth about $3,862,000. Geode Capital Management LLC bought a new position in T1 Energy during the 2nd quarter worth about $3,296,000. Adage Capital Partners GP L.L.C. bought a new position in T1 Energy during the 2nd quarter worth about $984,000. Finally, Bridgeway Capital Management LLC bought a new position in T1 Energy during the 2nd quarter worth about $224,000. Institutional investors own 52.31% of the company’s stock.

T1 Energy Trading Up 2.0%

Shares of NYSE:TE opened at $5.72 on Friday. T1 Energy Inc has a 52-week low of $0.93 and a 52-week high of $9.78. The company has a market capitalization of $1.60 billion, a P/E ratio of -2.82 and a beta of 1.78. The company has a 50-day simple moving average of $5.77 and a 200 day simple moving average of $5.92. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.18 and a current ratio of 1.25.

T1 Energy (NYSE:TE) last issued its earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating 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 business had revenue of $177.65 million during the quarter. During the same quarter last year, the business posted ($0.11) earnings per share. Sell-side analysts forecast that T1 Energy Inc will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TE shares. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of T1 Energy in a report on Tuesday. Zacks Research cut T1 Energy from a “hold” rating to a “strong sell” rating in a report on Friday, April 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Finally, BTIG Research increased their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

T1 Energy 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.