For FREYR Battery [FREY], Analyst sees a rise to $13. What next?

FREYR Battery [NYSE: FREY] surged by $1.09 during the normal trading session on Monday and reaching a high of $9.4899 during the day while it closed the day at $9.35. The company report on February 27, 2023 that FREYR Battery Reports Fourth Quarter and Full Year 2022 Results.

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FREYR Battery (NYSE: FREY) (“FREYR” or the “Company”), a developer of clean, next-generation battery cell production capacity, today reported financial results for the fourth quarter and full year of 2022.

FREYR Battery stock has also gained 5.41% of its value over the past 7 days. However, FREY stock has declined by -35.43% in the 3 months of the year. Over the past six months meanwhile, it has lost -25.79% and gained 7.72% year-on date.

The market cap for FREY stock reached $1.35 billion, with 116.70 million shares outstanding and 113.60 million shares in the current float. Compared to the average trading volume of 2.96M shares, FREY reached a trading volume of 6032970 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 $17.17 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.

BofA Securities have made an estimate for FREYR Battery shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 10, 2023. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $26 to $13. The new note on the price target was released on January 25, 2023, representing the official price target for FREYR Battery stock. On August 25, 2022, analysts increased their price target for FREY shares from 11 to 19.

The Average True Range (ATR) for FREYR Battery is set at 0.58 The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 2.89.

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 5.41. With this latest performance, FREY shares gained by 7.10% in over the last four-week period, additionally sinking by -25.79% over the last 6 months – not to mention a rise of 5.89% 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 53.70, with the RSI for the last a single of trading hit 59.05, and the three-weeks RSI is set at 50.32 for FREYR Battery [FREY]. The present Moving Average for the last 50 days of trading for this stock 9.26, while it was recorded at 8.56 for the last single week of trading, and 10.61 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 $791 million, or 43.20% of FREY stock, in the hands of institutional investors. The top three institutional holders of FREY stocks are: KIM, LLC with ownership of 11,500,000, which is approximately 0% of the company’s market cap and around 18.68% of the total institutional ownership; SPRING CREEK CAPITAL LLC, holding 11,500,000 shares of the stock with an approximate value of $107.53 million in FREY stocks shares; and SYLEBRA CAPITAL LTD, currently with $77.36 million in FREY stock with ownership of nearly -35.379% of the company’s market capitalization.

Positions in FREYR Battery stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 111 institutional holders increased their position in FREYR Battery [NYSE:FREY] by around 25,234,218 shares. Additionally, 51 investors decreased positions by around 8,743,466 shares, while 19 investors held positions by with 50,648,709 shares. The mentioned changes placed institutional holdings at 84,626,393 shares, according to the latest SEC report filing. FREY stock had 56 new institutional investments in for a total of 14,270,644 shares, while 24 institutional investors sold positions of 1,580,390 shares during the same period.


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