394,757 Shares in T1 Energy Inc $TE Acquired by Jennison Associates LLC

Jennison Associates LLC acquired a new position in T1 Energy Inc (NYSE:TE) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 394,757 shares of the utilities provider’s stock, valued at approximately $2,637,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in T1 Energy in the fourth quarter worth approximately $28,000. First PREMIER Bank bought a new position in T1 Energy in the fourth quarter worth approximately $30,000. Elevatus Welath Management bought a new position in T1 Energy in the fourth quarter worth approximately $67,000. WESPAC Advisors LLC bought a new position in T1 Energy in the fourth quarter worth approximately $67,000. Finally, Wealthfront Advisers LLC bought a new position in T1 Energy in the fourth quarter worth approximately $82,000. Institutional investors own 52.31% of the company’s stock.

T1 Energy Stock Down 0.1%

T1 Energy stock opened at $5.14 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.43 and a quick ratio of 1.18. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -2.50 and a beta of 1.78. T1 Energy Inc has a 1-year low of $0.93 and a 1-year high of $9.78. The business has a fifty day moving average price of $5.94 and a 200-day moving average price of $5.86.

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

Analyst Upgrades and Downgrades

TE has been the topic of several research analyst reports. Zacks Research cut T1 Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, April 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of T1 Energy in a research note on Friday, March 27th. Finally, Needham & Company LLC dropped their price objective on T1 Energy from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.83.

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.