Insider Selling: T1 Energy (NYSE:TE) Major Shareholder Sells 13,000,000 Shares of Stock

T1 Energy Inc (NYSE:TE) major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.69, for a total value of $112,970,000.00. Following the completion of the sale, the insider directly owned 40,152,664 shares of the company’s stock, valued at $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Solar (Schweiz) Ag Trina also recently made the following trade(s):

• On Friday, May 22nd, Solar (Schweiz) Ag Trina sold 9,500,000 shares of T1 Energy stock. The stock was sold at an average price of $8.14, for a total transaction of $77,330,000.00.

T1 Energy Trading Up 29.8%

NYSE TE traded up $2.41 during trading on Tuesday, hitting $10.49. The stock had a trading volume of 71,847,538 shares, compared to its average volume of 22,137,811. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $2.93 billion, a PE ratio of -5.17 and a beta of 1.78. The firm has a 50 day moving average price of $5.86 and a 200 day moving average price of $6.17. T1 Energy Inc has a twelve month low of $1.03 and a twelve month high of $10.80.

T1 Energy (NYSE:TE) last issued its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.13. The company had revenue of $177.65 million for the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same quarter last year, the company earned ($0.11) EPS. As a group, equities research analysts forecast that T1 Energy Inc will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in T1 Energy during the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy during the second quarter valued at approximately $27,000. NBC Securities Inc. bought a new stake in shares of T1 Energy during the fourth quarter valued at approximately $28,000. First PREMIER Bank acquired a new position in shares of T1 Energy during the fourth quarter worth approximately $30,000. Finally, Blackhawk Capital Partners LLC bought a new position in T1 Energy in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TE shares. BTIG Research boosted their price target on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Weiss Ratings restated a “sell (e+)” rating on shares of T1 Energy in a report on Friday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of T1 Energy in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.00.

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.