FREYR Battery (NYSE:FREY – Get Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $13.14, but opened at $13.78. FREYR Battery shares last traded at $14.77, with a volume of 135,133 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley set a $26.00 price objective on shares of FREYR Battery and gave the stock an "overweight" rating in a report on Wednesday. The Goldman Sachs Group upgraded shares of FREYR Battery from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $19.00 in a report on Wednesday, August 24th. BTIG Research raised their price objective on shares of FREYR Battery from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, September 1st. Finally, Credit Suisse Group raised their price objective on shares of FREYR Battery to $16.00 in a report on Monday, August 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, FREYR Battery currently has an average rating of "Moderate Buy" and an average price target of $21.50.

FREYR Battery Price Performance

The stock has a market cap of $1.79 billion, a PE ratio of -16.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.74 and a quick ratio of 11.74. The firm's 50 day moving average price is $11.46 and its two-hundred day moving average price is $9.83.

Hedge Funds Weigh In On FREYR Battery

Several hedge funds have recently bought and sold shares of FREY. Quantbot Technologies LP grew its stake in FREYR Battery by 653.2% during the second quarter. Quantbot Technologies LP now owns 3,879 shares of the company's stock valued at $26,000 after acquiring an additional 3,364 shares in the last quarter. First PREMIER Bank purchased a new position in FREYR Battery during the second quarter valued at approximately $31,000. Royal Bank of Canada grew its stake in FREYR Battery by 158.6% during the first quarter. Royal Bank of Canada now owns 3,931 shares of the company's stock valued at $49,000 after acquiring an additional 2,411 shares in the last quarter. Ogorek Anthony Joseph NY ADV bought a new stake in FREYR Battery during the first quarter valued at approximately $62,000. Finally, Creative Planning bought a new stake in FREYR Battery during the second quarter valued at approximately $72,000. Hedge funds and other institutional investors own 56.29% of the company's stock.

FREYR Battery Company Profile

(Get Rating)

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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