T3 Expands Diverse Holdings
T3 Companies Acquires Stakes in Root and Other Firms Amidst Mixed Analyst Ratings
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Key Points
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In Tungray, Weiss Ratings didn’t just keep a bearish stance—it adjusted the specific designation from “sell (d)” to “sell (e+)” in a research note dated April 27, after the company reported quarterly EPS of -$0.02 on $4.09 million in revenue (April 23).
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VYNE’s trading/valuation context is stark: shares opened at $0.66, with a 1-year range of $0.28 to $1.96; the stock showed a -1.73 price-to-earnings ratio and a 2.00 beta, reflecting high volatility alongside continued losses.
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Ondas: T3’s position is described as its 21st biggest holding (0.9% of the portfolio), and the company’s reported valuation metrics include a market cap of $4.73 billion, P/E of 232.75, and beta of 2.60—figures that help frame why the stock can react sharply to sentiment.
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Root: beyond Weiss trimming its hold outlook from “hold (c)” to “hold (c-)” (Tuesday), Keefe, Bruyette & Woods cut its price target from $104.00 to $95.00 while reiterating “outperform,” and Wells Fargo lifted its objective from $52.00 to $58.00—evidence of a split between downside-risk views and upside price-target models.
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NextNav: Wall Street Zen upgraded the stock from “strong sell” to “hold” on May 16, while the article notes NN opened at $21.55 and trades within a $10.87–$24.42 12-month range—context for why analysts’ rating moves matter.
T3 Companies LLC has taken a roughly $1.86 million stake in Root, Inc., buying about 25,800 shares of the digital insurance company, according to WatchlistNews. The firm also disclosed new or expanded positions in Tungray Technologies, VYNE Therapeutics, Ondas Holdings, and NextNav — a sweep of small-cap bets that signals an appetite for high-volatility plays.
The disclosures came through a Form 13F filing with the SEC, the quarterly report that institutional investors managing over $100 million must submit. T3, known primarily as a proprietary trading firm, appears to be building exposure across sectors where analyst opinions are sharply divided.
Root Attracts Bulls and Bears at the Same Time
Root, Inc. drew the most conflicting analyst views of any stock in T3's new disclosures. Keefe, Bruyette & Woods kept its "outperform" rating but cut its price target from $104 to $95. Wells Fargo analyst Elyse Greenspan went the other direction, raising her target from $52 to $58. That puts the two firms more than $37 apart on where Root should trade.
Weiss Ratings added a cautious note, trimming its outlook from "hold (c)" to "hold (c-)" around the same time. The split reflects a bigger debate: is Root a traditional insurer with slow growth, or a tech platform that will scale fast? T3 entered at roughly $72 per share implied by the $1.86 million valuation across 25,800 shares.
Weiss Ratings Turns More Bearish on Tungray After IPO Losses
Tungray Technologies went public on April 23 and immediately reported a quarterly loss. The company posted earnings per share of -$0.02 on revenue of $4.09 million. Four days later, on April 27, Weiss Ratings moved its designation from "sell (d)" to "sell (e+)" — a step further into bearish territory, according to TickerReport.
T3 still bought about 499,000 shares, giving it roughly 3% of the company. Tungray carries a 43.7% gross margin but posted a $0.7 million operating loss. In a high-interest-rate environment, thin-margin industrial firms face extra pressure, and Weiss clearly sees the risks as growing rather than shrinking.
VYNE Therapeutics Trades Near Its 52-Week Low
VYNE Therapeutics is one of T3's larger new positions by share count — 945,000 shares worth about $548,000 to $565,000, giving T3 a 2.84% ownership stake, according to TickerReport. The stock opened recently at $0.66, near the low end of its 12-month range of $0.28 to $1.96. Its price-to-earnings ratio sits at -1.73, meaning the company is still losing money.
VYNE's beta of 2.00 means it moves roughly twice as fast as the broader market — up or down. Weiss Ratings reissued a "sell" call on the stock even as T3 and other investors added shares. That combination of high volatility and continued losses makes VYNE one of the riskier names in T3's expanded portfolio.
NextNav Gets a Ratings Upgrade as T3 Builds Its Position
T3 added about 25,300 shares of NextNav, a company developing a GPS-alternative positioning network using the 900MHz radio spectrum. NextNav opened recently at $21.55 and has traded between $10.87 and $24.42 over the past 12 months. Wall Street Zen upgraded the stock from "strong sell" to "hold" on May 16, suggesting analysts see less downside risk than before.
Weiss Ratings still calls NextNav a "sell," keeping the analyst backdrop divided. T3's smaller position here — compared to its VYNE or Tungray stakes — may reflect that caution. Still, the upgrade from Wall Street Zen, combined with T3's entry near the stock's 52-week midpoint, points to some confidence that the worst selling pressure has passed.
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