Market cap of FREYR Battery Inc. [FREY] reaches 220.74M – now what?

FREYR Battery Inc. [NYSE: FREY] plunged by -$0.1 during the normal trading session on Thursday and reaching a high of $1.67 during the day while it closed the day at $1.58. The company report on January 2, 2024 at 6:30 AM that FREYR Battery Completes Redomicile from Luxembourg to the U.S.

FREYR Battery, Inc. (NYSE: FREY) (“FREYR” or the “Company”), a developer of clean, next-generation battery cell production capacity, completed its previously announced process to redomicile from Luxembourg to the United States effective December 31, 2023.

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In connection with the completion of the redomiciliation, each of the issued and outstanding of the Company’s previous Ordinary Shares and public and private Warrants have become, on a one-for-one basis, shares of Common Stock and Warrants, respectively, of FREYR Battery, Inc., a Delaware corporation. The Company expects that trading of the FREYR Common Stock and Warrants will commence under the same symbols on the New York Stock Exchange as of the open of business this morning, January 2, 2024.

FREYR Battery Inc. stock has also loss -16.84% of its value over the past 7 days. However, FREY stock has declined by -63.59% in the 3 months of the year. Over the past six months meanwhile, it has lost -83.96% and lost -15.51% year-on date.

The market cap for FREY stock reached $220.74 million, with 139.71 million shares outstanding and 117.03 million shares in the current float. Compared to the average trading volume of 3.60M shares, FREY reached a trading volume of 2580327 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 Inc. [FREY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FREY shares is $6.18 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 3.17. 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.

Morgan Stanley have made an estimate for FREYR Battery Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on November 14, 2023.

The Average True Range (ATR) for FREYR Battery Inc. is set at 0.17 The Price to Book ratio for the last quarter was 0.35, with the Price to Cash per share for the same quarter was set at 2.35.

FREY stock trade performance evaluation

FREYR Battery Inc. [FREY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.84. With this latest performance, FREY shares dropped by -15.51% in over the last four-week period, additionally sinking by -83.96% over the last 6 months – not to mention a drop of -83.49% 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 38.04, with the RSI for the last a single of trading hit 34.37, and the three-weeks RSI is set at 38.22 for FREYR Battery Inc. [FREY]. The present Moving Average for the last 50 days of trading for this stock 2.0178, while it was recorded at 1.7080 for the last single week of trading, and 5.6816 for the last 200 days.

FREYR Battery Inc. [FREY]: An insightful look at the core 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 Inc. [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 Inc. [FREY] managed to generate an average of -$465,995 per employee.FREYR Battery Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.05 and a Current Ratio set at 7.05.

FREYR Battery Inc. [FREY]: Institutional Ownership

The top three institutional holders of FREY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FREY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FREY stock with ownership which is approximately 5.8325%.