Jennison Associates LLC Acquires Shares of 394,757 T1 Energy Inc $TE

Key Points

• Jennison Associates LLC acquired a new stake of 394,757 shares of T1 Energy (NYSE:TE) in Q4 — about $2.64 million — and institutional investors now own roughly 52.31% of the stock.
• T1 Energy reported weak quarterly results, with EPS of ($0.87) vs. a $0.03 estimate, revenue of $358.6M, a negative net margin of 48.11% and negative ROE of 173.39%, highlighting profitability concerns.
• Analysts are mixed: the consensus rating is a “Moderate Buy” with a $7.83 price target, but recent notes include a Zacks downgrade to “strong sell,” Needham trimming its target to $8, and Weiss reaffirming a sell.

Jennison Associates LLC acquired a new stake in shares of T1 Energy Inc (NYSE:TE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 394,757 shares of the utilities provider's stock, valued at approximately $2,637,000. Jennison Associates LLC owned 0.19% of T1 Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in T1 Energy during the fourth quarter valued at approximately $28,000. First PREMIER Bank purchased a new stake in T1 Energy during the fourth quarter valued at approximately $30,000. Elevatus Welath Management purchased a new stake in T1 Energy during the fourth quarter valued at approximately $67,000. WESPAC Advisors LLC purchased a new stake in T1 Energy during the fourth quarter valued at approximately $67,000. Finally, Wealthfront Advisers LLC purchased a new stake in T1 Energy during the fourth quarter valued at approximately $82,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Zacks Research downgraded T1 Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, April 3rd. Needham & Company LLC cut their target price on T1 Energy from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of T1 Energy in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.83.

T1 Energy Trading Down 0.1%

TE opened at $5.14 on Monday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -2.50 and a beta of 1.78. The stock's 50 day moving average price is $5.94 and its 200-day moving average price is $5.86. T1 Energy Inc has a one year low of $0.93 and a one year high of $9.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.18 and a current ratio of 1.43.

T1 Energy (NYSE:TE - Get Free Report) last released its earnings results on Tuesday, March 31st. The utilities provider reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.90). The business had revenue of $358.55 million for the quarter. T1 Energy had a negative net margin of 48.11% and a negative return on equity of 173.39%. During the same quarter last year, the company posted ($2.59) earnings per share. On average, equities analysts forecast that T1 Energy Inc will post -0.47 EPS for the current 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.

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