FREYR Battery Inc. [NYSE: FREY] loss -7.23% on the last trading session, reaching $1.54 price per share at the time. The company report on February 29, 2024 at 6:01 AM that FREYR Battery Reports Fourth Quarter and Full Year 2023 Results.
FREYR Battery, Inc. (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 2023.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
If compared to the average trading volume of 2.43M shares, FREY reached a trading volume of 4813377 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $2.50 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 3.00. 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 new note on the price target was released on November 10, 2023, representing the official price target for FREYR Battery Inc. stock. Previously, the target price had yet another drop from $14 to $7, while TD Cowen kept a Market Perform rating on FREY stock. On July 18, 2023, analysts decreased their price target for FREY shares from 14 to 10.
The Average True Range (ATR) for FREYR Battery Inc. is set at 0.15 The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 2.35.
Trading performance analysis for FREY stock
FREYR Battery Inc. [FREY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.67. With this latest performance, FREY shares gained by 12.41% in over the last four-week period, additionally sinking by -76.42% over the last 6 months – not to mention a drop of -83.04% 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 44.69, with the RSI for the last a single of trading hit 40.50, and the three-weeks RSI is set at 45.10 for FREYR Battery Inc. [FREY]. The present Moving Average for the last 50 days of trading for this stock 1.6450, while it was recorded at 1.6240 for the last single week of trading, and 4.6832 for the last 200 days.
FREYR Battery Inc. [FREY]: A deeper dive into fundamental analysis
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]: An earnings per share (EPS) analysis
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.
An analysis of Institutional ownership at FREYR Battery Inc. [FREY]
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%.
