Truist Financial Corp Makes New $26,000 Investment in FREYR Battery, Inc. (NYSE:FREY)

Truist Financial Corp bought a new position in shares of FREYR Battery, Inc. (NYSE:FREY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds have also recently bought and sold shares of the business. FSM Wealth Advisors LLC bought a new stake in FREYR Battery during the fourth quarter valued at about $51,000. DRW Securities LLC bought a new stake in FREYR Battery during the third quarter valued at about $29,000. Summit Trail Advisors LLC bought a new stake in FREYR Battery during the fourth quarter valued at about $129,000. BNP Paribas Financial Markets boosted its holdings in FREYR Battery by 182.9% during 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, SG Americas Securities LLC boosted its holdings in FREYR Battery by 42.6% during the fourth quarter. SG Americas Securities LLC now owns 61,653 shares of the company’s stock valued at $159,000 after acquiring an additional 18,425 shares during the period. 52.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, BTIG Research upgraded shares of FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a report on Friday, December 20th.

FREYR Battery Stock Performance

NYSE FREY opened at $1.48 on Friday. The firm has a 50-day simple moving average of $2.08 and a 200 day simple moving average of $1.69. FREYR Battery, Inc. has a twelve month low of $0.91 and a twelve month high of $3.36. The stock has a market cap of $207.93 million, a PE ratio of -1.95 and a beta of 0.94.

Insider Activity at FREYR Battery

In related news, Director Tore Ivar Slettemoen sold 391,071 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $1.88, for a total value of $735,213.48. Following the completion of the sale, the director now owns 5,080,446 shares in the company, valued at approximately $9,551,238.48. This trade represents a 7.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Evan Calio bought 50,000 shares of FREYR Battery stock in a transaction that occurred on 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 purchase, the chief financial officer now owns 680,462 shares of the company’s stock, valued at $1,068,325.34. This trade represents a 7.93 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 804,292 shares of company stock worth $1,439,009. Company insiders own 20.40% of the company’s stock.

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.