T1 Energy Inc $TE Holdings Boosted by Squarepoint Ops LLC

Key Points

• Squarepoint Ops increased its T1 Energy stake by 35.2% in the second quarter, bringing its holdings to 1.43 million shares valued at approximately $13.5 million. Institutional investors and hedge funds collectively own 52.31% of the company.
• Analyst sentiment remains mixed but leans positive: T1 Energy has a consensus rating of “Moderate Buy” and an average price target of $9.12, despite some rating downgrades and target-price reductions.
• T1 Energy shares opened at $4.89, well below their 52-week high of $12.49. The company reported a quarterly loss of $0.09 per share—better than estimates—and revenue of $250.13 million, but continues to post negative margins and return on equity.

Squarepoint Ops LLC grew its stake in shares of T1 Energy Inc (NYSE:TE - Free Report) by 35.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,429,027 shares of the utilities provider's stock after purchasing an additional 371,874 shares during the quarter. Squarepoint Ops LLC owned approximately 0.49% of T1 Energy worth $13,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sei Investments Co. lifted its holdings in shares of T1 Energy by 4.6% in the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider's stock worth $192,000 after purchasing an additional 1,911 shares during the last quarter. Strs Ohio bought a new stake in T1 Energy in the fourth quarter valued at $32,000. Insight Advisors LLC PA lifted its stake in T1 Energy by 21.3% in the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider's stock valued at $162,000 after buying an additional 6,500 shares during the last quarter. Cetera Investment Advisers lifted its stake in T1 Energy by 3.7% in the first quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider's stock valued at $800,000 after buying an additional 6,537 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of T1 Energy during the fourth quarter valued at $63,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein began coverage on shares of T1 Energy in a report on Tuesday, June 16th. They issued a "market perform" rating and a $9.00 price objective on the stock. Needham & Company LLC reduced their target price on shares of T1 Energy from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. Wall Street Zen cut shares of T1 Energy from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 22nd. BTIG Research raised their price target on shares of T1 Energy from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Zacks Research raised T1 Energy from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, T1 Energy presently has an average rating of "Moderate Buy" and a consensus target price of $9.12.

T1 Energy Price Performance

Shares of NYSE TE opened at $4.89 on Thursday. The stock has a market cap of $1.44 billion, a P/E ratio of -2.47 and a beta of 2.25. The firm's 50-day simple moving average is $5.44 and its 200 day simple moving average is $6.52. T1 Energy Inc has a fifty-two week low of $1.70 and a fifty-two week high of $12.49. The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 3.50.

T1 Energy (NYSE:TE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. T1 Energy had a negative net margin of 38.49% and a negative return on equity of 149.67%. The firm had revenue of $250.13 million during the quarter. Equities analysts expect that T1 Energy Inc will post -0.31 EPS for the current year.

T1 Energy Company 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.

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