FREYR Battery, Inc. (NYSE:FREY) Short Interest Update

FREYR Battery, Inc. (NYSE:FREY) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 13,370,000 shares, an increase of 11.3% from the November 15th total of 12,010,000 shares. Currently, 11.0% of the company’s stock are short sold. Based on an average daily trading volume, of 3,120,000 shares, the days-to-cover ratio is presently 4.3 days.

Insider Activity at FREYR Battery

In related news, CFO Joseph Evan Calio acquired 50,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $1.57 per share, with a total value of $78,500.00. Following the acquisition, the chief financial officer now owns 680,462 shares in the company, valued at $1,068,325.34. This represents a 7.93 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tore Ivar Slettemoen sold 228,600 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $1.73, for a total transaction of $395,478.00. Following the transaction, the director now owns 7,351,846 shares in the company, valued at approximately $12,718,693.58. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.40% of the stock is owned by insiders.

Hedge Funds Weigh In On FREYR Battery

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in FREYR Battery during the 2nd quarter worth approximately $26,000. DRW Securities LLC bought a new position in FREYR Battery during the 3rd quarter worth $29,000. SG Americas Securities LLC acquired a new stake in shares of FREYR Battery during the second quarter worth $38,000. BNP Paribas Financial Markets boosted its position in shares of FREYR Battery by 182.9% in the third quarter. BNP Paribas Financial Markets now owns 55,575 shares of the company’s stock valued at $54,000 after acquiring an additional 35,928 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of FREYR Battery in the second quarter valued at about $56,000. 52.31% of the stock is owned by institutional investors.

FREYR Battery Price Performance

FREYR Battery stock opened at $1.57 on Tuesday. The company’s 50-day moving average is $1.60 and its 200-day moving average is $1.51. The firm has a market capitalization of $219.87 million, a PE ratio of -2.06 and a beta of 1.03. FREYR Battery has a fifty-two week low of $0.91 and a fifty-two week high of $2.85.

FREYR Battery (NYSE:FREY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). During the same quarter in the previous year, the company posted ($0.07) earnings per share.

About FREYR Battery

FREYR Battery, Inc provides battery solutions in the United States, Norway, and internationally. The company develops battery cell manufacturing facilities. It serves its products to energy storage systems and commercial mobility, including marine applications and commercial vehicles markets. The company is headquartered in Luxembourg.