FREYR Battery (NYSE:FREY) Shares Gap Up to $13.49

FREYR Battery (NYSE:FREYGet Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $13.49, but opened at $13.94. FREYR Battery shares last traded at $13.50, with a volume of 4,823 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FREY. Credit Suisse Group upped their price target on shares of FREYR Battery to $16.00 in a report on Monday, August 15th. Morgan Stanley set a $26.00 price target on shares of FREYR Battery and gave the company an “overweight” rating in a report on Wednesday, September 21st. Cowen started coverage on shares of FREYR Battery in a research report on Monday, October 31st. They issued an “outperform” rating for the company. Cowen started coverage on shares of FREYR Battery in a research report on Monday, October 31st. They issued an “outperform” rating for the company. Finally, BTIG Research boosted their price objective on shares of FREYR Battery from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, September 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.50.

FREYR Battery Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 9.27 and a quick ratio of 9.27. The business’s 50-day moving average price is $13.72 and its two-hundred day moving average price is $10.82. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -11.17 and a beta of 0.55.

Hedge Funds Weigh In On FREYR Battery

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in FREYR Battery by 1.2% during the third quarter. California State Teachers Retirement System now owns 70,381 shares of the company’s stock worth $1,002,000 after purchasing an additional 859 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in FREYR Battery by 15.6% during the third quarter. Rockefeller Capital Management L.P. now owns 8,452 shares of the company’s stock worth $120,000 after purchasing an additional 1,141 shares during the last quarter. Wolverine Asset Management LLC increased its position in FREYR Battery by 8.8% during the first quarter. Wolverine Asset Management LLC now owns 14,384 shares of the company’s stock worth $176,000 after purchasing an additional 1,159 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in FREYR Battery by 44.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,996 shares of the company’s stock worth $71,000 after purchasing an additional 1,526 shares during the last quarter. Finally, UBS Group AG increased its position in FREYR Battery by 18.5% during the third quarter. UBS Group AG now owns 11,574 shares of the company’s stock worth $165,000 after purchasing an additional 1,803 shares during the last quarter. Institutional investors and hedge funds 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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