Traders Purchase Large Volume of FREYR Battery Call Options (NYSE:FREY)

FREYR Battery, Inc. (NYSE:FREY) was the recipient of some unusual options trading on Monday. Traders acquired 7,201 call options on the stock. This is an increase of 921% compared to the average volume of 705 call options.

Wall Street Analyst Weigh In

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

FREYR Battery Price Performance

Shares of FREYR Battery stock opened at $2.56 on Tuesday. The company has a market cap of $359.65 million, a PE ratio of -3.37 and a beta of 1.03. The firm has a fifty day moving average price of $1.68 and a two-hundred day moving average price of $1.50. 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 issued its earnings results on Wednesday, November 6th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). During the same quarter last year, the business posted ($0.07) earnings per share.

Insider Activity at FREYR Battery

In other FREYR Battery news, Director Tore Ivar Slettemoen sold 391,071 shares of the stock in a transaction that occurred on 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 $9,551,238.48. This represents a 7.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph Evan Calio purchased 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were bought at an average price of $1.57 per share, for a total transaction of $78,500.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 804,292 shares of company stock valued at $1,439,009. Company insiders own 20.40% of the company’s stock.

Institutional Trading of FREYR Battery

Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of FREYR Battery by 0.7% during the third quarter. Jennison Associates LLC now owns 1,327,877 shares of the company’s stock worth $1,288,000 after purchasing an additional 9,667 shares during the last quarter. Victory Capital Management Inc. bought a new stake in FREYR Battery during the 2nd quarter worth about $26,000. SG Americas Securities LLC increased its position in FREYR Battery by 93.3% in 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. DRW Securities LLC bought a new position in shares of FREYR Battery in the third quarter worth about $29,000. Finally, WINTON GROUP Ltd acquired a new position in shares of FREYR Battery during the second quarter worth approximately $56,000. 52.31% of the stock is owned by institutional investors.

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.