• At the time of disclosure, the hedge fund’s stake in the company was valued at $43.9 million.
• Trina Solar, Encompass Capital Advisors, and BlackRock are the top three stakeholders in T1 Energy.
• Last week, the company reported first-quarter total sales of $177.6 million and a loss per share of $0.08, both ahead of expectations.

Solar and battery manufacturer T1 Energy Inc. (TE) is attracting significant investor attention on Monday after hedge fund Situational Awareness LP reported a new stake in the company.

According to the latest 13F filed on May 18 with the Securities and Exchange Commission, the hedge fund purchased 10 million shares of the company’s common stock. At the time of disclosure, the stake in the company was valued at $43.9 million, and as of the writing, TE stock was up more than 14% at $6.50 in premarket trading, valuing the hedge fund’s stake at $65 million.

T1 Energy has over 279 million shares outstanding, which puts the hedge fund’s position in the company at about 3.6%.

Situational Awareness was founded back in September 2024 by former OpenAI superalignment researcher Leopold Aschenbrenner. According to its website, the fund strongly believes artificial intelligence will be the dominant driver of global market returns over the next decade.

Fiscal AI data shows that Trina Solar, Encompass Capital Advisors, and BlackRock are the top three institutions with the largest shareholding in the company.

TE’s Q1 Report

Last week, T1 Energy reported first quarter (Q1) results, with total sales more than tripling to $177.6 million and significantly ahead of the $95.5 million consensus estimate polled by Fiscal AI. The firm reported a loss of $0.08 per share, narrower than the estimated $0.11 per share.

At the end of the quarter, the company had $123.7 million in cash, cash equivalents, and restricted cash, which included $46.4 million of unrestricted cash.

T1 Energy said it continues to expect production of 3.1 gigawatts to 4.2 gigawatts from the G1_Dallas energy facility.

What Retail Thinks About TE

On Stocktwits, retail sentiment about TE remained ‘extremely bullish' amid ‘extremely high’ message volumes over the last 24 hours, with multiple users flagging the activist investor stake.

TE stock has lost more than 15% so far this year, but has more than quadrupled in value over the past 12 months.

Over 7 million shares have changed hands on the New York Stock Exchange by 8:25 am ET, nearly half of its three-month average trading volume of 16.08 million.

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