FREYR Battery (NYSE:FREY – Get Rating) shares traded down 11.5% on Friday . The stock traded as low as $13.61 and last traded at $13.61. 43,017 shares changed hands 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.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on FREY shares. Credit Suisse Group lifted their price target on shares of FREYR Battery to $16.00 in a research report on Monday, August 15th. Morgan Stanley set a $26.00 price objective on shares of FREYR Battery and gave the company an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group upgraded shares of FREYR Battery from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $19.00 in a report on Wednesday, August 24th. Finally, BTIG Research upped their price target 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, FREYR Battery has an average rating of "Moderate Buy" and an average target price of $21.50.
Get FREYR Battery alerts:FREYR Battery Price Performance
The company has a fifty day moving average of $11.58 and a 200-day moving average of $9.86. The firm has a market cap of $1.62 billion, a P/E ratio of -15.09 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.
FREYR Battery (NYSE:FREY – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.30. During the same period in the prior year, the company posted ($0.04) EPS. On average, sell-side analysts anticipate that FREYR Battery will post -1.03 EPS for the current fiscal year.Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Sylebra Capital Ltd grew its stake in FREYR Battery by 0.6% in the 1st quarter. Sylebra Capital Ltd now owns 12,785,564 shares of the company's stock valued at $156,751,000 after purchasing an additional 79,629 shares during the period. Candlestick Capital Management LP grew its stake in FREYR Battery by 3.5% in the 2nd quarter. Candlestick Capital Management LP now owns 3,830,962 shares of the company's stock valued at $26,204,000 after purchasing an additional 130,862 shares during the period. HITE Hedge Asset Management LLC grew its stake in FREYR Battery by 99.1% in the 1st quarter. HITE Hedge Asset Management LLC now owns 1,016,515 shares of the company's stock valued at $12,462,000 after purchasing an additional 506,003 shares during the period. Jennison Associates LLC grew its stake in FREYR Battery by 2.0% in the 1st quarter. Jennison Associates LLC now owns 712,384 shares of the company's stock valued at $8,734,000 after purchasing an additional 13,683 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in FREYR Battery by 533.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 671,380 shares of the company's stock valued at $7,493,000 after purchasing an additional 565,434 shares during the period. 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.
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