FREYR Battery (NYSE:FREY) Trading Down 4.1% - Here's Why

FREYR Battery, Inc. (NYSE:FREY - Get Free Report) shares were down 4.1% on Friday . The company traded as low as $1.38 and last traded at $1.42. Approximately 1,108,532 shares traded hands during trading, a decline of 55% from the average daily volume of 2,487,329 shares. The stock had previously closed at $1.48.

FREYR Battery Stock Down 4.1%

The firm has a market capitalization of $199.50 million, a PE ratio of -1.87 and a beta of 0.94. The business has a 50-day moving average price of $1.29 and a 200-day moving average price of $1.58.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FREY. Southpoint Capital Advisors LP acquired a new stake in FREYR Battery during the fourth quarter worth about $14,922,000. Long Focus Capital Management LLC raised its position in shares of FREYR Battery by 27.0% during the 4th quarter. Long Focus Capital Management LLC now owns 5,650,000 shares of the company's stock valued at $14,577,000 after buying an additional 1,200,950 shares during the period. Invesco Ltd. lifted its holdings in FREYR Battery by 48.5% in the fourth quarter. Invesco Ltd. now owns 2,144,187 shares of the company's stock valued at $5,532,000 after acquiring an additional 700,469 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in 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 last quarter. Finally, Geode Capital Management LLC grew its position in FREYR Battery by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,363,260 shares of the company's stock worth $3,517,000 after acquiring an additional 21,232 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.

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