FREYR Battery (NYSE:FREY – Get Rating)’s share price traded down 11.5% on Friday . The company traded as low as $13.61 and last traded at $13.61. 43,017 shares were traded during mid-day trading, a decline of 99% from the average session volume of 3,872,681 shares. The stock had previously closed at $15.37.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. BTIG Research raised their price target on shares of FREYR Battery from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Credit Suisse Group raised their price target on shares of FREYR Battery to $16.00 in a research note on Monday, August 15th. Morgan Stanley set a $26.00 target price on shares of FREYR Battery and gave the stock an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group raised shares of FREYR Battery from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $19.00 in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.50.
FREYR Battery Price Performance
The firm has a market capitalization of $1.55 billion, a PE ratio of -15.11 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.74 and a current ratio of 11.74. The stock’s 50 day simple moving average is $11.46 and its two-hundred day simple moving average is $9.83.
Institutional Trading of FREYR Battery
Several institutional investors have recently made changes to their positions in FREY. Creative Planning acquired a new position in shares of FREYR Battery in the second quarter worth $72,000. Occudo Quantitative Strategies LP acquired a new position in shares of FREYR Battery in the second quarter worth $149,000. Candlestick Capital Management LP grew its stake in shares of FREYR Battery by 3.5% in the second quarter. Candlestick Capital Management LP now owns 3,830,962 shares of the company’s stock worth $26,204,000 after acquiring an additional 130,862 shares in the last quarter. State Street Corp grew its stake in shares of FREYR Battery by 50.9% in the second quarter. State Street Corp now owns 132,667 shares of the company’s stock worth $907,000 after acquiring an additional 44,761 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of FREYR Battery in the second quarter worth $175,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.
FREYR Battery Company Profile
FREYR Battery engages in the production and sale of battery cells for stationary energy storage, electric mobility, and marine applications in Europe and internationally. The company designs and manufactures lithium-ion based battery cell facilities. The company was founded in 2018 and is based in Luxembourg.
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