Rhumbline Advisers Has $367,000 Stock Position in FREYR Battery, Inc. (NYSE:FREY)

Rhumbline Advisers grew its position in FREYR Battery, Inc. (NYSE:FREY) by 28.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,382 shares of the company’s stock after acquiring an additional 31,421 shares during the quarter. Rhumbline Advisers owned 0.10% of FREYR Battery worth $367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in FREYR Battery by 24.4% during the third quarter. State Street Corp now owns 1,567,499 shares of the company’s stock worth $1,521,000 after buying an additional 307,426 shares in the last quarter. Jennison Associates LLC boosted its position in shares of FREYR Battery by 0.7% during the 3rd quarter. Jennison Associates LLC now owns 1,327,877 shares of the company’s stock valued at $1,288,000 after acquiring an additional 9,667 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in FREYR Battery by 45.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,026,774 shares of the company’s stock valued at $996,000 after acquiring an additional 320,217 shares during the period. Erste Asset Management GmbH acquired a new position in FREYR Battery in the third quarter worth about $156,000. Finally, Barclays PLC lifted its stake in FREYR Battery by 274.9% during the third quarter. Barclays PLC now owns 147,124 shares of the company’s stock worth $142,000 after purchasing an additional 107,881 shares during the period. 52.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Tore Ivar Slettemoen sold 228,600 shares of FREYR Battery stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $1.73, for a total value of $395,478.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph Evan Calio purchased 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $1.74 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief financial officer now owns 255,600 shares in the company, valued at $444,744. The trade was a 95.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 804,292 shares of company stock worth $1,439,009. Corporate insiders own 20.40% of the company’s stock.

Analyst Ratings Changes

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

FREYR Battery Price Performance

Shares of NYSE:FREY opened at $1.40 on Monday. The business’s fifty day moving average price is $2.05 and its two-hundred day moving average price is $1.69. FREYR Battery, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $3.36. The stock has a market capitalization of $196.69 million, a price-to-earnings ratio of -1.84 and a beta of 0.94.

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.