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FREYR Battery (NYSE:FREY) Trading 1.9% Higher - Still a Buy?

FREYR Battery logo with Energy background

Key Points

  • FREYR Battery's stock price rose by 1.9% on Tuesday, trading at $1.62 after reaching a high of $1.67, although trading volume declined by 25% from the average.
  • Institutional investors now hold 52.31% of FREYR's stock, with notable increases in stakes from firms like D. E. Shaw & Co. and Southpoint Capital Advisors.
  • FREYR Battery operates in the battery solutions market, focusing on energy storage, commercial mobility, and has manufacturing facilities in the U.S. and Norway.
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FREYR Battery, Inc. (NYSE:FREY - Get Free Report)'s stock price traded up 1.9% on Tuesday . The stock traded as high as $1.67 and last traded at $1.62. 1,894,013 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 2,541,737 shares. The stock had previously closed at $1.59.

FREYR Battery Stock Up 1.9%

The firm has a market cap of $227.59 million, a P/E ratio of -2.13 and a beta of 0.94. The firm's fifty day moving average is $1.38 and its two-hundred day moving average is $1.36.

Institutional Trading of FREYR Battery

Several large investors have recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP bought a new stake in FREYR Battery in the fourth quarter valued at $14,922,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of FREYR Battery by 2,538.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,458,467 shares of the company's stock valued at $3,763,000 after buying an additional 1,403,183 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of FREYR Battery by 2.0% during the 4th quarter. Northern Trust Corp now owns 701,547 shares of the company's stock valued at $1,810,000 after buying an additional 13,580 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of FREYR Battery by 23.2% during the 4th quarter. Two Sigma Investments LP now owns 532,199 shares of the company's stock valued at $1,373,000 after buying an additional 100,326 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of FREYR Battery by 1,178.8% during the 4th quarter. Marshall Wace LLP now owns 169,994 shares of the company's stock valued at $439,000 after buying an additional 156,701 shares in the last quarter. Institutional investors own 52.31% of the company's stock.

About FREYR Battery

(Get Free Report)

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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