Bank of New York Mellon Corp Grows Stock Holdings in FREYR Battery, Inc. (NYSE:FREY)

Bank of New York Mellon Corp increased its position in shares of FREYR Battery, Inc. (NYSE:FREY) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,777 shares of the company’s stock after purchasing an additional 7,373 shares during the period. Bank of New York Mellon Corp owned 0.18% of FREYR Battery worth $647,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Laidlaw Wealth Management LLC raised its holdings in FREYR Battery by 217.9% during the fourth quarter. Laidlaw Wealth Management LLC now owns 44,500 shares of the company’s stock worth $115,000 after purchasing an additional 30,500 shares in the last quarter. Truist Financial Corp purchased a new position in shares of FREYR Battery in the 4th quarter valued at $26,000. Rhumbline Advisers raised its stake in FREYR Battery by 28.3% during the 4th quarter. Rhumbline Advisers now owns 142,382 shares of the company’s stock worth $367,000 after acquiring an additional 31,421 shares in the last quarter. Summit Trail Advisors LLC purchased a new stake in FREYR Battery in the fourth quarter valued at $129,000. Finally, FSM Wealth Advisors LLC acquired a new position in FREYR Battery in the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Wall Street Analyst Weigh In

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

FREYR Battery Trading Down 5.8 %

FREY stock opened at $1.46 on Thursday. The company has a market capitalization of $205.12 million, a P/E ratio of -1.92 and a beta of 0.94. The business has a 50 day simple moving average of $1.77 and a 200-day simple moving average of $1.72. FREYR Battery, Inc. has a twelve month low of $0.91 and a twelve month high of $3.36.

FREYR Battery Profile

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.