Situational Awareness LP Has $46.45 Million Stock Holdings in T1 Energy Inc $TE

Key Points

• Situational Awareness LP cut its T1 Energy stake by 51% in the second quarter, selling 5.1 million shares and retaining 4.9 million shares valued at approximately $46.45 million. The position represents 1.75% of T1 Energy and 0.2% of the fund’s holdings.
• Institutional ownership stands at 52.31%, with several investors initiating or increasing positions during the quarter, including Bank of New York Mellon, Ratan Capital Management, and FNY Investment Advisers.
• Analyst sentiment is mixed but averages a “Moderate Buy” rating with a $9.12 consensus price target. T1 Energy reported quarterly revenue of $250.13 million and an adjusted loss of $0.09 per share, while maintaining negative profitability metrics.

Situational Awareness LP reduced its stake in T1 Energy Inc (NYSE:TE - Free Report) by 51.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,900,000 shares of the utilities provider's stock after selling 5,100,000 shares during the period. T1 Energy accounts for 0.2% of Situational Awareness LP's holdings, making the stock its 17th biggest holding. Situational Awareness LP owned 1.75% of T1 Energy worth $46,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in T1 Energy in the 2nd quarter valued at about $731,000. Ratan Capital Management LP acquired a new stake in T1 Energy in the second quarter valued at approximately $1,896,000. Bank of New York Mellon Corp bought a new stake in shares of T1 Energy during the second quarter valued at approximately $7,768,000. FNY Investment Advisers LLC increased its holdings in shares of T1 Energy by 101.9% during the second quarter. FNY Investment Advisers LLC now owns 20,894 shares of the utilities provider's stock valued at $198,000 after acquiring an additional 10,544 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of T1 Energy by 8,445.7% during the first quarter. NewEdge Advisors LLC now owns 86,141 shares of the utilities provider's stock worth $378,000 after purchasing an additional 85,133 shares during the period. Institutional investors own 52.31% of the company's stock.

Analyst Ratings Changes

TE has been the subject of several research reports. Northland Securities began coverage on shares of T1 Energy in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $16.00 price target for the company. Wall Street Zen cut shares of T1 Energy from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Zacks Research raised shares of T1 Energy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 20th. Needham & Company LLC lowered their target price on shares of T1 Energy from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of T1 Energy in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.12.

T1 Energy Price Performance

TE opened at $4.52 on Friday. T1 Energy Inc has a 1 year low of $1.70 and a 1 year high of $12.49. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.30 and a quick ratio of 0.90. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -2.28 and a beta of 2.25. The firm's fifty day moving average price is $5.77 and its two-hundred day moving average price is $6.56.

T1 Energy (NYSE:TE - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. The company had revenue of $250.13 million for the quarter. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. As a group, analysts anticipate that T1 Energy Inc will post -0.31 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source