FREYR Battery (NYSE:FREY) Stock Price Up 2.4% - Still a Buy?

Key Points

• FREYR Battery's stock rose by 2.4% on Thursday, closing at $2.93 after reaching a high of $3.03 and experiencing a significant trading volume increase of 52%.
• A new institutional investment firm, Inscription Capital LLC, bought 48,750 shares of FREYR Battery stock, valued at approximately $82,000, indicating strong interest from institutional investors.
• The company has a market capitalization of $411.64 million and a notable price-to-earnings ratio of -3.86, which may be of interest to potential investors.

FREYR Battery, Inc. (NYSE:FREY - ) shares shot up 2.4% during trading on Thursday . The company traded as high as $3.03 and last traded at $2.93. 3,866,189 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 2,541,737 shares. The stock had previously closed at $2.86.

FREYR Battery Trading Up 2.4%

The stock has a market cap of $411.64 million, a price-to-earnings ratio of -3.86 and a beta of 0.94. The company has a 50 day simple moving average of $1.79 and a 200-day simple moving average of $1.45.

Institutional Investors Weigh In On FREYR Battery

An institutional investor recently bought a new position in FREYR Battery stock. Inscription Capital LLC purchased a new stake in FREYR Battery, Inc. (NYSE:FREY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 48,750 shares of the company's stock, valued at approximately $82,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

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.

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