FREYR Battery [FREY] gain 4.26% so far this year. What now?

FREYR Battery [NYSE: FREY] closed the trading session at $9.05 on 01/04/23. The day’s price range saw the stock hit a low of $8.3992, while the highest price level was $9.09. The company report on December 23, 2022 that FREYR Battery Appoints Executive to Lead Global Corporate Development and U.S. Execution.

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FREYR Battery (NYSE: FREY) (“FREYR” or “the Company”), a developer of clean, next-generation battery cell production capacity, has announced the appointment of Jeremy Bezdek to the position of Executive Vice President of Global Corporate Development and President for FREYR Battery U.S.

“Our Giga America phased development is accelerating, catalyzed by the Inflation Reduction Act, and based on the Giga Arctic blueprint for a world leading Gigafactory in Coweta Country, Georgia. In parallel, FREYR is also significantly expanding its strategic ecosystem of technologies, customers, and industrial scaling partners. For this important phase of FREYR’s development in the U.S. and globally, we need seasoned leaders like Jeremy with deep expertise in innovation, business development and strategy,” said Tom Einar Jensen, Co-Founder and CEO, FREYR.

The stocks have a year to date performance of 4.26 percent and weekly performance of 7.48 percent. The stock has been moved at 17.69 percent over the last six months. The stock has performed -27.48 percent around the most recent 30 days and changed -43.72 percent over the most recent 3-months.

If compared to the average trading volume of 2.56M shares, FREY reached to a volume of 4018920 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about FREYR Battery [FREY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FREY shares is $21.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FREY stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for FREYR Battery shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 31, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $11 to $19. The new note on the price target was released on August 25, 2022, representing the official price target for FREYR Battery stock. Previously, the target price had yet another raise to $8, while Goldman analysts kept a Neutral rating on FREY stock.

The Average True Range (ATR) for FREYR Battery is set at 0.66 The Price to Book ratio for the last quarter was 2.57, with the Price to Cash per share for the same quarter was set at 3.02.

FREY stock trade performance evaluation

FREYR Battery [FREY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.48. With this latest performance, FREY shares dropped by -27.48% in over the last four-week period, additionally plugging by 17.69% over the last 6 months – not to mention a drop of -23.50% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FREY stock in for the last two-week period is set at 36.43, with the RSI for the last a single of trading hit 39.44, and the three-weeks RSI is set at 37.32 for FREYR Battery [FREY]. The present Moving Average for the last 50 days of trading for this stock 11.96, while it was recorded at 8.58 for the last single week of trading, and 10.82 for the last 200 days.

FREYR Battery [FREY]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -33.93, with Return on Assets sitting at -20.36.

FREYR Battery’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.30 and a Current Ratio set at 9.30.

FREYR Battery [FREY]: Insider Ownership positions

There are presently around $608 million, or 43.20% of FREY stock, in the hands of institutional investors. The top three institutional holders of FREY stocks are: SYLEBRA CAPITAL LTD with ownership of 12,803,449, which is approximately 2.507% of the company’s market cap and around 18.68% of the total institutional ownership; KIM, LLC, holding 11,500,000 shares of the stock with an approximate value of $104.08 million in FREY stocks shares; and SPRING CREEK CAPITAL LLC, currently with $104.08 million in FREY stock with ownership of nearly 0% of the company’s market capitalization.

Positions in FREYR Battery stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 72 institutional holders increased their position in FREYR Battery [NYSE:FREY] by around 7,941,938 shares. Additionally, 56 investors decreased positions by around 6,011,181 shares, while 15 investors held positions by with 53,200,169 shares. The mentioned changes placed institutional holdings at 67,153,288 shares, according to the latest SEC report filing. FREY stock had 35 new institutional investments in for a total of 5,915,496 shares, while 18 institutional investors sold positions of 1,123,994 shares during the same period.

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