Mitsubishi UFJ Asset Management Co. Ltd. Takes $1.30 Million Position in T1 Energy Inc $TE

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in T1 Energy Inc (NYSE:TE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 194,290 shares of the utilities provider’s stock, valued at approximately $1,298,000.

Several other institutional investors have also bought and sold shares of TE. Strs Ohio purchased a new position 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 during the 2nd quarter worth $27,000. NBC Securities Inc. purchased a new stake in T1 Energy in the 4th quarter worth about $28,000. First PREMIER Bank purchased a new stake in T1 Energy in the 4th quarter worth about $30,000. Finally, Bank of America Corp DE bought a new stake in T1 Energy in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BTIG Research upped 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. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a research note on Tuesday. Zacks Research lowered shares of T1 Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, April 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $8.00.

T1 Energy Price Performance

Shares of NYSE TE opened at $5.83 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.43. T1 Energy Inc has a fifty-two week low of $0.93 and a fifty-two week high of $9.78. The stock has a market cap of $1.63 billion, a PE ratio of -2.83 and a beta of 1.78. The stock has a fifty day moving average of $5.81 and a 200-day moving average of $5.90.

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 analysts’ consensus estimates of ($0.21) by $0.13. T1 Energy had a negative return on equity of 173.39% and a negative net margin of 48.11%.The business had revenue of $177.65 million for the quarter. During the same period last year, the company posted ($0.11) EPS. Equities research analysts anticipate that T1 Energy Inc will post -0.47 earnings per share for the current year.

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.