Southpoint Capital Advisors LP Acquires New Position in FREYR Battery, Inc. (NYSE:FREY)

Southpoint Capital Advisors LP purchased a new position in FREYR Battery, Inc. (NYSE:FREY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,783,726 shares of the company's stock, valued at approximately $14,922,000. Southpoint Capital Advisors LP owned 4.12% of FREYR Battery as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. EAM Investors LLC purchased a new stake in FREYR Battery during the fourth quarter valued at $614,000. Rhumbline Advisers grew its position in FREYR Battery by 28.3% during the fourth quarter. Rhumbline Advisers now owns 142,382 shares of the company's stock valued at $367,000 after buying an additional 31,421 shares during the period. Truist Financial Corp purchased a new stake in FREYR Battery during the fourth quarter valued at approximately $26,000. CenterBook Partners LP bought a new position in FREYR Battery in the fourth quarter worth approximately $640,000. Finally, SBI Securities Co. Ltd. bought a new position in FREYR Battery in the fourth quarter worth approximately $28,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

FREYR Battery Stock Performance

Shares of FREY stock traded up $0.08 during mid-day trading on Friday, reaching $1.05. 1,216,547 shares of the company's stock traded hands, compared to its average volume of 2,436,307. The firm has a market capitalization of $147.51 million, a PE ratio of -1.38 and a beta of 0.94. FREYR Battery, Inc. has a 12 month low of $0.91 and a 12 month high of $3.36. The firm has a 50 day moving average price of $1.24 and a two-hundred day moving average price of $1.76.

About FREYR Battery

FREYR Battery, Inc provides battery solutions in the United States, Norway, and internationally. The company develops battery cell manufacturing facilities. It serves its products to energy storage systems and commercial mobility, including marine applications and commercial vehicles markets. The company is headquartered in Luxembourg.