ProShare Advisors LLC Takes $521,000 Position in T1 Energy Inc $TE

ProShare Advisors LLC bought a new stake in T1 Energy Inc (NYSE:TE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 77,960 shares of the utilities provider’s stock, valued at approximately $521,000.

Several other hedge funds have also added to or reduced their stakes in TE. Vanguard Group Inc. bought a new position in T1 Energy in the fourth quarter valued at about $69,894,000. Kim LLC bought a new position in T1 Energy in the second quarter valued at about $8,816,000. Invesco Ltd. bought a new position in T1 Energy in the second quarter valued at about $3,862,000. Geode Capital Management LLC bought a new position in T1 Energy in the second quarter valued at about $3,296,000. Finally, Halter Ferguson Financial Inc. bought a new position in T1 Energy in the fourth quarter valued at about $8,504,000. Institutional investors own 52.31% of the company’s stock.

T1 Energy Price Performance

Shares of TE opened at $10.83 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 2.05. T1 Energy Inc has a 1 year low of $1.03 and a 1 year high of $11.43. The stock has a market cap of $3.02 billion, a P/E ratio of -5.34 and a beta of 1.78. The stock’s 50-day moving average price is $5.98 and its two-hundred day moving average price is $6.27.

T1 Energy (NYSE:TE) last issued its earnings results 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 150.51% and a negative net margin of 42.30%.The firm had revenue of $177.65 million for the quarter. During the same quarter last year, the business posted ($0.11) EPS. On average, equities analysts predict that T1 Energy Inc will post -0.29 earnings per share for the current year.

Insider Transactions at T1 Energy

In other T1 Energy news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $348,926,650.16. This trade represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

T1 Energy 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.