Electron Capital Partners LLC Has $26.03 Million Stock Position in T1 Energy Inc $TE

Electron Capital Partners LLC lifted its stake in shares of T1 Energy Inc (NYSE:TE) by 69.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,929,585 shares of the utilities provider’s stock after purchasing an additional 2,429,564 shares during the period. T1 Energy accounts for 1.0% of Electron Capital Partners LLC’s holdings, making the stock its 24th biggest position. Electron Capital Partners LLC’s holdings in T1 Energy were worth $26,031,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in T1 Energy by 232.2% in the first quarter. Renaissance Technologies LLC now owns 11,858,306 shares of the utilities provider’s stock valued at $52,058,000 after acquiring an additional 8,289,050 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of T1 Energy in the fourth quarter valued at approximately $2,637,000. Kim LLC acquired a new stake in shares of T1 Energy in the fourth quarter valued at approximately $8,684,000. Vanguard Group Inc. bought a new position in shares of T1 Energy during the 4th quarter worth approximately $69,894,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of T1 Energy during the 4th quarter worth approximately $1,298,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

T1 Energy Stock Performance

Shares of T1 Energy stock opened at $4.89 on Tuesday. The company’s 50 day moving average price is $8.36 and its two-hundred day moving average price is $7.17. The firm has a market capitalization of $1.37 billion, a P/E ratio of -2.41 and a beta of 2.16. T1 Energy Inc has a fifty-two week low of $1.15 and a fifty-two week 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.

T1 Energy (NYSE:TE) last posted its quarterly earnings data 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 during the quarter. T1 Energy had a negative net margin of 42.30% and a negative return on equity of 150.51%. During the same quarter last year, the company earned ($0.11) earnings per share. On average, equities analysts forecast that T1 Energy Inc will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Solar (Schweiz) Ag Trina sold 13,000,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TE has been the subject of several research reports. Wall Street Zen downgraded T1 Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Zacks Research upgraded shares of T1 Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Northland Securities initiated coverage on shares of T1 Energy in a report on Wednesday, June 3rd. They set an “outperform” rating and a $16.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of T1 Energy in a report on Tuesday, May 12th. Finally, Sanford C. Bernstein assumed coverage on shares of T1 Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $9.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.