FREYR Battery (NYSE:FREY) currently has a daily average trading volume of 2.68M but it saw 1912360 shares traded on Thursday. With a market cap of 1.05B USD, stock’s current market price of $7.26 came rising about 1.11 while comparing to the previous closing price of $7.18. In past 52 weeks, the stock remained buoying in the range of price level as high as $16.94 and as low as $6.42. In the recent trading on the day, stock has struck highest price mark of $7.38 while lowest mark touched by it was $7.08.
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Taking a look at 20-day trading activity of FREYR Battery (FREY) gives us an average price of $8.31, while its current price level is -57.14% below from 52-week high level whereas it is 13.08% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $8.93 while that of 200 days or SMA-200 reads an average of $10.62. A closer look into the stock’s movement over the week reveals that its volatility is standing at 7.08% during that period while stretching the period over a month that decreases to 6.31%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 34.48 which implies that the stock is in neutral territory.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the BofA Securities which initiated the stock as “Buy” in its note to investors issued on February 10, 2023, recommending a price target of $13 for it. Morgan Stanley downgraded its recommendation for the stock as a “Equal-Weight” from “Overweight” on January 25, 2023 while assigning a price target range of $26-$13.
Over the week, FREY’s stock price is moving -5.71% down while it is -16.55% when we observe its performance for the past one month. Year-to-date it is -16.36% down and over the past year, the stock is showing a downside performance of -19.87%.
The latest quarterly earnings report issued by the company was for quarter ended 9/29/2022, when its quarterly earnings per share (EPS) of -$0.8 beaten by the consensus estimate of -$0.3 for the same. The company is expected to be releasing its next quarterly report in 05/10/2023, for which analysts forecasted an EPS of -$0.21 while estimate for next year EPS is -$1.16. For FREY, analysts are forecasting an EPS-growth rate of 6.50% for current year and estimate for EPS growth in next year is -31.00%. In next quarter, company is expected to be making quarterly sales of $2.83 million as analysts are expecting the sales for current fiscal year at $1.53 million and seeing the company making $9.42 million in sales next year.
Currently, FREYR Battery’s total number of outstanding shares is 123.51M with 18.68% of that held by the insiders while 46.06% of its common stock has been owned by the institutions. Company’s return on equity (ROE) at -18.40%. Stock has a price to book (P/B) ratio of 1.25. Its return on asset (ROA) is -15.20% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Handelsbanken Hallbar Energi came shrinking its share ownership by 11.62% in the FREYR Battery (FREY) increasing its stake to 4.13% with control over 0.6 million shares in the company. As per SEC documents, Handelsbanken Hallbar Energi sought 5,765,644 of company’s common stock of worth $52.35 million as per recent closing price of the stock. Handelsbanken Hallbar Energi is not the only institutional holder which restructured its stake in FREYR Battery, as PGIM Jennison Natural Resources F picked 1,217,356 shares of worth $11.05 million to bring its holdings to a total of 0.37 million shares.
