FREYR Battery (NYSE:FREY) Shares Gap Up to $7.50

FREYR Battery (NYSE:FREYGet Rating) shares gapped up before the market opened on Tuesday . The stock had previously closed at $7.50, but opened at $8.00. FREYR Battery shares last traded at $7.91, with a volume of 2,683 shares.

Several research firms have recently issued reports on FREY. Zacks Investment Research upgraded FREYR Battery from a “strong sell” rating to a “hold” rating in a research note on Monday, May 9th. US Capital Advisors began coverage on FREYR Battery in a research note on Thursday, March 17th. They set a “buy” rating for the company. Finally, Clarkson Capital began coverage on FREYR Battery in a research note on Wednesday, January 26th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $19.33.

The firm has a fifty day simple moving average of $10.01 and a 200 day simple moving average of $10.17. The company has a quick ratio of 15.72, a current ratio of 15.72 and a debt-to-equity ratio of 0.02.

FREYR Battery (NYSE:FREYGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.12). During the same quarter in the previous year, the business earned ($2.48) earnings per share. Equities research analysts expect that FREYR Battery will post -1.07 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC raised its holdings in shares of FREYR Battery by 8.8% in the 1st quarter. Wolverine Asset Management LLC now owns 14,384 shares of the company’s stock worth $176,000 after buying an additional 1,159 shares in the last quarter. Advisor Group Holdings Inc. grew its position in FREYR Battery by 216.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,160 shares of the company’s stock worth $36,000 after acquiring an additional 2,160 shares during the last quarter. Orion Capital Management LLC grew its position in FREYR Battery by 150.0% during the 4th quarter. Orion Capital Management LLC now owns 5,000 shares of the company’s stock worth $56,000 after acquiring an additional 3,000 shares during the last quarter. PNC Financial Services Group Inc. grew its position in FREYR Battery by 22.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 18,332 shares of the company’s stock worth $225,000 after acquiring an additional 3,332 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in FREYR Battery during the 4th quarter worth approximately $40,000. 55.36% of the stock is owned by institutional investors and hedge funds.

FREYR Battery Company Profile (NYSE:FREY)

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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