Vanguard Group Inc. Makes New $69.89 Million Investment in T1 Energy Inc $TE

Vanguard Group Inc. acquired a new position in shares of T1 Energy Inc (NYSE:TE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,463,192 shares of the utilities provider’s stock, valued at approximately $69,894,000.

Other hedge funds have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in T1 Energy during the fourth quarter worth approximately $662,000. Round Rock Advisors LLC acquired a new stake in T1 Energy during the fourth quarter worth approximately $1,199,000. NBC Securities Inc. acquired a new stake in T1 Energy during the fourth quarter worth approximately $28,000. Focused Wealth Management Inc acquired a new stake in T1 Energy during the fourth quarter worth approximately $180,000. Finally, Fiscal Wisdom Wealth Management LLC acquired a new stake in T1 Energy during the fourth quarter worth approximately $103,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

T1 Energy Stock Performance

NYSE TE opened at $5.72 on Friday. The firm’s fifty day moving average price is $5.77 and its two-hundred day moving average price is $5.92. The stock has a market cap of $1.60 billion, a PE ratio of -2.82 and a beta of 1.78. T1 Energy Inc has a fifty-two week low of $0.93 and a fifty-two week high of $9.78. 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 posted its earnings results 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 firm 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 in the previous year, the firm posted ($0.11) EPS. On average, equities analysts expect that T1 Energy Inc will post -0.47 EPS for the current fiscal year.

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.