FREYR Battery (NYSE:FREY) Trading Down 11.5%

FREYR Battery (NYSE:FREYGet 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.

FREYR Battery (NYSE:FREYGet Rating) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.30. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, sell-side analysts forecast that FREYR Battery will post -1.03 EPS for the current year.

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

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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.

Further Reading

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