FREYR Battery [NYSE: FREY] slipped around -0.67 points on Thursday, while shares priced at $7.70 at the close of the session, down -8.00%. The company report on February 28, 2023 that FREYR Battery Announces Filing of 2022 Annual Report on Form 10-K.
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FREYR Battery (NYSE: FREY) (“FREYR” or the “Company”), a developer of clean, next-generation battery cell production capacity, today filed its 2022 Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) with the U.S. Securities and Exchange Commission (“SEC”), which can be downloaded from the SEC’s website (http://www.sec.gov). Our 2022 Form 10-K is also available on our corporate website (https://ir.freyrbattery.com/Financials/sec-filings/default.aspx). Hard copies of our complete 2022 Form 10-K, which includes our audited financial statements, can be ordered, free of charge, by contacting the Company.
FREYR Battery stock is now -11.29% down from its year-to-date (YTD) trading value. FREY Stock saw the intraday high of $8.40 and lowest of $7.63 per share. The company’s 52-week high price is 16.94, which means current price is +0.92% above from all time high which was touched on 01/18/23.
Compared to the average trading volume of 2.68M shares, FREY reached a trading volume of 3317444 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $15.86 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 0.55 The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 3.33.
How has FREY stock performed recently?
FREYR Battery [FREY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.94. With this latest performance, FREY shares dropped by -15.85% in over the last four-week period, additionally sinking by -40.68% over the last 6 months – not to mention a drop of -15.75% 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 37.11, with the RSI for the last a single of trading hit 32.83, and the three-weeks RSI is set at 39.22 for FREYR Battery [FREY]. The present Moving Average for the last 50 days of trading for this stock 9.04, while it was recorded at 8.47 for the last single week of trading, and 10.64 for the last 200 days.
FREYR Battery [FREY]: Deeper insight into the fundamentals
Return on Equity for this stock declined to -15.64, with Return on Assets sitting at -13.58.
FREYR Battery’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.30 and a Current Ratio set at 9.30.
Insider trade positions for FREYR Battery [FREY]
There are presently around $652 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 $88.55 million in FREY stocks shares; and SYLEBRA CAPITAL LTD, currently with $63.71 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 25,253,211 shares. Additionally, 51 investors decreased positions by around 8,743,466 shares, while 19 investors held positions by with 50,649,850 shares. The mentioned changes placed institutional holdings at 84,646,527 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.