Investors Purchase Large Volume of Call Options on T1 Energy (NYSE:TE)

T1 Energy Inc (NYSE:TE) saw unusually large options trading on Wednesday. Stock investors acquired 51,388 call options on the company. This is an increase of approximately 48% compared to the typical daily volume of 34,688 call options.

T1 Energy Trading Up 12.3%

Shares of TE traded up $1.07 during trading hours on Wednesday, hitting $9.70. The stock had a trading volume of 23,824,706 shares, compared to its average volume of 24,519,631. T1 Energy has a 12-month low of $1.15 and a 12-month high of $12.49. The firm has a market cap of $2.71 billion, a P/E ratio of -4.75 and a beta of 2.14. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.98 and a current ratio of 1.25. The company’s fifty day simple moving average is $6.96 and its 200 day simple moving average is $6.84.

T1 Energy (NYSE:TE) last announced its quarterly 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 return on equity of 150.51% and a negative net margin of 42.30%.The firm had revenue of $177.65 million during the quarter. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Equities research analysts forecast that T1 Energy will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total transaction of $112,970,000.00. Following the transaction, the insider owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. This represents a 24.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 22.44% of the stock is currently owned by corporate insiders.

Institutional Trading of T1 Energy

Large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new stake in T1 Energy in the 4th quarter valued at $28,000. First PREMIER Bank acquired a new stake in T1 Energy in the 4th quarter valued at $30,000. Strs Ohio acquired a new stake in T1 Energy in the 4th quarter valued at $32,000. Russell Investments Group Ltd. acquired a new stake in shares of T1 Energy during the fourth quarter valued at about $63,000. Finally, Elevatus Welath Management acquired a new stake in shares of T1 Energy during the fourth quarter valued at about $67,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Zacks Research raised T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of T1 Energy in a research report on Friday, March 27th. Northland Securities began coverage on T1 Energy in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. BTIG Research increased their target price on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Sanford C. Bernstein began coverage on T1 Energy in a research report on Tuesday. They issued a “market perform” rating and a $9.00 target price on the stock. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.13.

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.