FREYR Battery, Inc. (NYSE:FREY) Sees Significant Growth in Short Interest

FREYR Battery, Inc. (NYSE:FREY - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 8,330,000 shares, a growth of 8.9% from the March 31st total of 7,650,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is presently 5.3 days. Currently, 6.8% of the shares of the company are short sold.

FREYR Battery Stock Down 5.1 %

Shares of FREY stock traded down $0.09 on Tuesday, hitting $1.66. 930,470 shares of the stock traded hands, compared to its average volume of 1,606,564. The firm has a 50 day simple moving average of $1.68 and a two-hundred day simple moving average of $1.93. FREYR Battery has a 52 week low of $1.21 and a 52 week high of $10.10.

FREYR Battery (NYSE:FREY - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Sell-side analysts expect that FREYR Battery will post -1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On FREYR Battery

Large investors have recently made changes to their positions in the company. Jennison Associates LLC increased its position in FREYR Battery by 1.1% in the third quarter. Jennison Associates LLC now owns 1,346,343 shares of the company's stock worth $6,584,000 after purchasing an additional 14,553 shares during the last quarter. Triodos Investment Management BV increased its holdings in shares of FREYR Battery by 24.2% in the 3rd quarter. Triodos Investment Management BV now owns 1,180,000 shares of the company's stock worth $5,770,000 after buying an additional 230,000 shares during the last quarter. Franklin Resources Inc. raised its position in shares of FREYR Battery by 10.0% during the 4th quarter. Franklin Resources Inc. now owns 915,700 shares of the company's stock valued at $1,712,000 after buying an additional 83,400 shares in the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of FREYR Battery by 19.8% in the 1st quarter. Green Alpha Advisors LLC now owns 241,029 shares of the company's stock valued at $405,000 after acquiring an additional 39,813 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in FREYR Battery by 35.7% in the third quarter. Kennedy Capital Management LLC now owns 223,893 shares of the company's stock worth $1,095,000 after acquiring an additional 58,893 shares in the last quarter. 52.31% of the stock is owned by institutional investors.

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, Luxembourg.

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