FREYR Battery [NYSE: FREY] price surged by 16.67 percent to reach at $0.25. The company report on November 13, 2023 at 5:33 AM that FREYR Battery Publishes Shareholder Letter.
FREYR Battery (NYSE: FREY) (“FREYR”) has published a letter to shareholders co-authored by Co-Founder and Executive Chairperson Tom Einar Jensen and Chief Executive Officer Birger Steen. The content of the shareholder letter, which is posted to the investor relations section of FREYR’s website, is also included below:.
A sum of 12833555 shares traded at recent session while its average daily volume was at 2.48M shares. FREYR Battery shares reached a high of $1.88 and dropped to a low of $1.53 until finishing in the latest session at $1.75.
The one-year FREY stock forecast points to a potential upside of 83.43. The average equity rating for FREY stock is currently 2.38, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $10.56 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 2.38. 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.
BTIG Research have made an estimate for FREYR Battery shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 10, 2023.
The Average True Range (ATR) for FREYR Battery is set at 0.36 The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 2.35.
FREY Stock Performance Analysis:
FREYR Battery [FREY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -49.42. With this latest performance, FREY shares dropped by -55.24% in over the last four-week period, additionally sinking by -76.57% over the last 6 months – not to mention a drop of -86.70% 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 22.06, with the RSI for the last a single of trading hit 21.00, and the three-weeks RSI is set at 23.47 for FREYR Battery [FREY]. The present Moving Average for the last 50 days of trading for this stock 4.3736, while it was recorded at 2.4320 for the last single week of trading, and 6.9832 for the last 200 days.
Insight into FREYR Battery Fundamentals:
Return on Total Capital for FREY is now -18.90, given the latest momentum, and Return on Invested Capital for the company is -15.51. Return on Equity for this stock declined to -15.64, with Return on Assets sitting at -13.58. When it comes to the capital structure of this company, FREYR Battery [FREY] has a Total Debt to Total Equity ratio set at 2.01. Additionally, FREY Total Debt to Total Capital is recorded at 1.97, with Total Debt to Total Assets ending up at 1.74. Long-Term Debt to Equity for the company is recorded at 1.55, with the Long-Term Debt to Total Capital now at 1.52.
Reflecting on the efficiency of the workforce at the company, FREYR Battery [FREY] managed to generate an average of -$465,995 per employee.FREYR Battery’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.05 and a Current Ratio set at 7.05.
FREYR Battery [FREY] Institutonal Ownership Details
The top three institutional holders of FREY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FREY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FREY stock with ownership which is approximately 5.7994%.