Creek Drive Management Group LLC Buys New Stake in T1 Energy Inc $TE

Creek Drive Management Group LLC purchased a new stake in T1 Energy Inc (NYSE:TE) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 118,000 shares of the utilities provider’s stock, valued at approximately $788,000. Creek Drive Management Group LLC owned about 0.06% of T1 Energy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Strs Ohio bought a new position in shares of T1 Energy during the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. bought a new stake in shares of T1 Energy in the second quarter worth about $27,000. NBC Securities Inc. purchased a new stake in shares of T1 Energy in the fourth quarter worth about $28,000. First PREMIER Bank purchased a new stake in shares of T1 Energy in the fourth quarter worth about $30,000. Finally, Bank of America Corp DE bought a new position in T1 Energy during the second quarter valued at approximately $49,000. 52.31% of the stock is currently owned by institutional investors.

T1 Energy Trading Down 0.6%

Shares of NYSE TE opened at $9.29 on Friday. T1 Energy Inc has a 1-year low of $1.15 and a 1-year high of $12.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 0.98. The business’s 50 day moving average is $7.27 and its two-hundred day moving average is $6.93. The stock has a market capitalization of $2.60 billion, a P/E ratio of -4.58 and a beta of 2.14.

T1 Energy (NYSE:TE) last posted its quarterly earnings data 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. The business had revenue of $177.65 million during the quarter. T1 Energy had a negative return on equity of 150.51% and a negative net margin of 42.30%.During the same period in the previous year, the business earned ($0.11) earnings per share. As a group, research analysts expect that T1 Energy Inc will post -0.2 EPS for the current year.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have weighed in on TE shares. Sanford C. Bernstein assumed coverage on T1 Energy in a report on Tuesday. They set a “market perform” rating and a $9.00 price target for the company. BTIG Research upped their price objective on T1 Energy from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Northland Securities began coverage on T1 Energy in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price for the company. Wall Street Zen lowered shares of T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Zacks Research raised shares of T1 Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.12.

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.