Morgan Stanley Analysts Give FREYR Battery (NYSE:FREY) a $26.00 Price Target

Morgan Stanley set a $26.00 target price on FREYR Battery (NYSE:FREYGet Rating) in a research note issued to investors on Wednesday morning, The Fly reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently commented on FREY. BTIG Research increased their target price on FREYR Battery from $20.00 to $25.00 and gave the company a buy rating in a research report on Thursday, September 1st. Credit Suisse Group raised their price objective on FREYR Battery to $16.00 in a research report on Monday, August 15th. Finally, The Goldman Sachs Group upgraded 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 research report on Wednesday, August 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $21.50.

FREYR Battery Price Performance

FREYR Battery stock opened at $15.39 on Wednesday. The company has a current ratio of 11.74, a quick ratio of 11.74 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.79 billion, a PE ratio of -16.73 and a beta of 0.67. FREYR Battery has a 12 month low of $6.42 and a 12 month high of $15.95. The stock has a 50-day moving average price of $11.31 and a two-hundred day moving average price of $9.78.

FREYR Battery (NYSE:FREYGet Rating) last posted its 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 period in the prior year, the company earned ($0.04) earnings per share. Analysts expect that FREYR Battery will post -1 EPS for the current year.

Institutional Investors Weigh In On FREYR Battery

A number of hedge funds have recently added to or reduced their stakes in FREY. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in FREYR Battery by 533.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 671,380 shares of the company’s stock worth $7,493,000 after purchasing an additional 565,434 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in FREYR Battery by 99.1% in the first quarter. HITE Hedge Asset Management LLC now owns 1,016,515 shares of the company’s stock worth $12,462,000 after purchasing an additional 506,003 shares in the last quarter. Sylebra Capital Ltd increased its holdings in FREYR Battery by 2.3% in the fourth quarter. Sylebra Capital Ltd now owns 12,705,935 shares of the company’s stock worth $142,052,000 after purchasing an additional 286,695 shares in the last quarter. Candlestick Capital Management LP increased its holdings in FREYR Battery by 7.1% in the fourth quarter. Candlestick Capital Management LP now owns 3,750,100 shares of the company’s stock worth $41,926,000 after purchasing an additional 250,100 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in FREYR Battery by 48.1% in the fourth quarter. Point72 Asset Management L.P. now owns 656,400 shares of the company’s stock valued at $7,339,000 after acquiring an additional 213,136 shares during the period. 56.29% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for FREYR Battery (NYSE:FREY)

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