Charles Schwab Investment Management Inc. Decreases Stock Holdings in FREYR Battery, Inc. (NYSE:FREY)

Charles Schwab Investment Management Inc. cut its stake in FREYR Battery, Inc. (NYSE:FREY) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 264,505 shares of the company’s stock after selling 17,204 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.19% of FREYR Battery worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FREY. Jennison Associates LLC increased its position in shares of FREYR Battery by 0.7% in the third quarter. Jennison Associates LLC now owns 1,327,877 shares of the company’s stock valued at $1,288,000 after buying an additional 9,667 shares in the last quarter. Green Alpha Advisors LLC increased its holdings in FREYR Battery by 29.0% during the 3rd quarter. Green Alpha Advisors LLC now owns 257,767 shares of the company’s stock valued at $250,000 after acquiring an additional 57,951 shares in the last quarter. SG Americas Securities LLC increased its holdings in FREYR Battery by 93.3% during the 3rd quarter. SG Americas Securities LLC now owns 43,228 shares of the company’s stock valued at $42,000 after acquiring an additional 20,860 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in FREYR Battery during the second quarter worth about $218,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of FREYR Battery in the second quarter valued at about $75,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Tore Ivar Slettemoen sold 228,600 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $1.73, for a total transaction of $395,478.00. Following the sale, the director now owns 7,351,846 shares in the company, valued at approximately $12,718,693.58. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph Evan Calio bought 125,000 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $1.74 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief financial officer now directly owns 255,600 shares in the company, valued at $444,744. This trade represents a 95.71 % increase in their position. The disclosure for this purchase can be found here. 20.40% of the stock is currently owned by company insiders.

FREYR Battery Price Performance

Shares of FREY opened at $1.81 on Friday. FREYR Battery, Inc. has a 1-year low of $0.91 and a 1-year high of $2.85. The stock has a market cap of $254.29 million, a price-to-earnings ratio of -2.38 and a beta of 1.03. The firm has a 50 day simple moving average of $1.65 and a 200-day simple moving average of $1.51.

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