For FREYR Battery Inc. [FREY], Analyst sees a drop to $2. What next?

FREYR Battery Inc. [NYSE: FREY] surged by $0.23 during the normal trading session on while it closed the day at $1.78. The company report on February 7, 2024 at 6:00 AM that FREYR Battery Provides Operations and Financial Update.

FREYR reaches major milestone by successfully conducting automated casting trials of electrodes with active electrolyte slurry at Customer Qualification Plant (“CQP”).

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FREYR expects to make functional battery cells for customer samples using full automation of CQP in H1 2024, which is the Company’s top strategic priority.

FREYR Battery Inc. stock has also gained 29.93% of its value over the past 7 days. However, FREY stock has declined by -49.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -76.61% and lost -4.81% year-on date.

The market cap for FREY stock reached $248.68 million, with 139.71 million shares outstanding and 121.69 million shares in the current float. Compared to the average trading volume of 3.47M shares, FREY reached a trading volume of 3041650 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 $5.98 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 0.15 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 trade performance evaluation

FREYR Battery Inc. [FREY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.93. With this latest performance, FREY shares gained by 1.71% in over the last four-week period, additionally sinking by -76.61% over the last 6 months – not to mention a drop of -80.55% 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 60.14, with the RSI for the last a single of trading hit 70.02, and the three-weeks RSI is set at 53.11 for FREYR Battery Inc. [FREY]. The present Moving Average for the last 50 days of trading for this stock 1.6796, while it was recorded at 1.4600 for the last single week of trading, and 5.0545 for the last 200 days.

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

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.

Earnings per share (EPS) analysis for FREYR Battery Inc. [FREY] stock

With the latest financial reports released by the company, FREYR Battery Inc. posted 0.2/share EPS, while the average EPS was predicted by analysts to be reported at -0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 190.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FREY.

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%.