FREYR Battery (NYSE:FREY) Trading Down 2.5% - Here's What Happened

Key Points

• FREYR Battery's share price fell 2.5% to $1.16, with trading volume declining by 61% compared to the average daily volume.
• Institutional investors own 52.31% of FREYR Battery's stock, with several adding new positions in the latest quarter.
• The company specializes in developing battery cell manufacturing facilities and servicing energy storage systems and commercial mobility markets in multiple regions.

FREYR Battery, Inc. (NYSE:FREY - Get Free Report) shares dropped 2.5% on Monday . The stock traded as low as $1.15 and last traded at $1.16. Approximately 998,885 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 2,541,737 shares. The stock had previously closed at $1.19.

FREYR Battery Stock Up 1.6%

The stock has a fifty day moving average of $1.34 and a two-hundred day moving average of $1.42. The stock has a market cap of $178.42 million, a price-to-earnings ratio of -1.67 and a beta of 0.94.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in FREYR Battery during the 4th quarter worth $31,000. Alpha Wealth Funds LLC acquired a new position in FREYR Battery during the 4th quarter worth $33,000. Raymond James Financial Inc. bought a new position in shares of FREYR Battery during the fourth quarter worth about $36,000. Two Sigma Securities LLC bought a new stake in FREYR Battery in the fourth quarter valued at about $39,000. Finally, Nomura Holdings Inc. acquired a new stake in FREYR Battery during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 52.31% of the company's stock.

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.