FREYR Battery (NYSE:FREY) Trading Down 1.7% - What's Next?

Key Points

• FREYR Battery's stock dropped 1.7%, trading as low as $1.70 and last at $1.75, with a significant decline in trading volume of 55% compared to its average session.
• Institutional investors now hold 52.31% of FREYR's stock, with notable acquisitions by firms such as Alpha Wealth Funds and ProShare Advisors in the fourth quarter.
• The company specializes in developing battery solutions and manufacturing facilities for energy storage systems and commercial mobility, with a market capitalization of $245.86 million.

FREYR Battery, Inc. (NYSE:FREY - Get Free Report) was down 1.7% on Wednesday . The company traded as low as $1.70 and last traded at $1.75. Approximately 1,154,356 shares changed hands during trading, a decline of 55% from the average daily volume of 2,541,737 shares. The stock had previously closed at $1.78.

FREYR Battery Stock Up 4.8%

The stock's fifty day moving average price is $1.53 and its 200 day moving average price is $1.37. The stock has a market cap of $273.96 million, a PE ratio of -2.57 and a beta of 0.94.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FREY. ProShare Advisors LLC increased its holdings in shares of FREYR Battery by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 31,573 shares of the company's stock worth $81,000 after buying an additional 10,389 shares during the last quarter. Alpha Wealth Funds LLC purchased a new position in shares of FREYR Battery during the 4th quarter worth about $33,000. Northern Trust Corp boosted its stake 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 worth $1,810,000 after purchasing an additional 13,580 shares during the period. Nomura Holdings Inc. purchased a new position in shares of FREYR Battery during the 4th quarter worth about $47,000. Finally, Millennium Management LLC boosted its position in FREYR Battery by 21.7% in the 4th quarter. Millennium Management LLC now owns 141,866 shares of the company's stock valued at $366,000 after buying an additional 25,300 shares during the period. Hedge funds and other institutional investors own 52.31% of the company's stock.

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.