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

Southpoint Capital Advisors LP bought a new position in FREYR Battery, Inc. (NYSE:FREY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,783,726 shares of the company's stock, valued at approximately $14,922,000. Southpoint Capital Advisors LP owned approximately 4.12% of FREYR Battery as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Long Focus Capital Management LLC increased its stake in shares of FREYR Battery by 27.0% in the fourth quarter. Long Focus Capital Management LLC now owns 5,650,000 shares of the company's stock worth $14,577,000 after purchasing an additional 1,200,950 shares in the last quarter. Invesco Ltd. increased its stake in shares of FREYR Battery by 48.5% in the fourth quarter. Invesco Ltd. now owns 2,144,187 shares of the company's stock worth $5,532,000 after purchasing an additional 700,469 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of FREYR Battery by 2,538.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,458,467 shares of the company's stock valued at $3,763,000 after acquiring an additional 1,403,183 shares during the period. Geode Capital Management LLC grew its stake in FREYR Battery by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,363,260 shares of the company's stock valued at $3,517,000 after acquiring an additional 21,232 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in FREYR Battery by 4.8% during the fourth quarter. Franklin Resources Inc. now owns 959,500 shares of the company's stock valued at $2,476,000 after acquiring an additional 43,800 shares in the last quarter. Hedge funds and other institutional investors own 52.31% of the company's stock.

FREYR Battery Stock Down 6.4%

NYSE:FREY traded down $0.07 during mid-day trading on Thursday, hitting $1.02. 2,459,633 shares of the stock traded hands, compared to its average volume of 2,440,747. The business's 50-day moving average price is $1.27 and its 200 day moving average price is $1.76. The company has a market cap of $143.30 million, a PE ratio of -1.34 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.

FREYR Battery Company Profile

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.