Swiss National Bank Acquires 48,700 Shares of FREYR Battery (NYSE:FREY)

Swiss National Bank raised its holdings in FREYR Battery (NYSE:FREY – Get Rating) by 25.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 242,700 shares of the company’s stock after acquiring an additional 48,700 shares during the period. Swiss National Bank owned about 0.21% of FREYR Battery worth $2,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP grew its holdings in shares of FREYR Battery by 653.2% during the second quarter. Quantbot Technologies LP now owns 3,879 shares of the company’s stock worth $26,000 after purchasing an additional 3,364 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of FREYR Battery by 158.6% during the first quarter. Royal Bank of Canada now owns 3,931 shares of the company’s stock worth $49,000 after purchasing an additional 2,411 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of 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. Creative Planning bought a new stake in shares of FREYR Battery during the second quarter worth about $72,000. Finally, IFP Advisors Inc grew its holdings in shares of FREYR Battery by 29.3% during the fourth quarter. IFP Advisors Inc now owns 10,600 shares of the company’s stock worth $101,000 after purchasing an additional 2,400 shares during the last quarter. 78.25% of the stock is currently owned by institutional investors.

FREYR Battery Price Performance

Shares of FREY opened at $7.16 on Friday. FREYR Battery has a 52-week low of $6.20 and a 52-week high of $16.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.16 and a current ratio of 8.16. The business’s 50 day moving average price is $7.50 and its two-hundred day moving average price is $9.26. The firm has a market cap of $1.00 billion, a PE ratio of -11.02 and a beta of 0.68.

FREYR Battery (NYSE:FREY – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.27). During the same period last year, the business earned ($0.24) earnings per share. On average, equities analysts anticipate that FREYR Battery will post -1.44 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Bank of America initiated coverage on FREYR Battery in a research note on Friday, February 10th. They issued a “buy” rating and a $13.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, FREYR Battery presently has a consensus rating of “Moderate Buy” and an average price target of $17.60.

About FREYR Battery

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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.