Short Interest in FREYR Battery, Inc. (NYSE:FREY) Rises By 11.3%

FREYR Battery, Inc. (NYSE:FREY) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 13,370,000 shares, a growth of 11.3% from the November 15th total of 12,010,000 shares. Approximately 11.0% of the shares of the stock are sold short. Based on an average daily volume of 3,120,000 shares, the days-to-cover ratio is presently 4.3 days.

Insider Buying and Selling

In other news, Director Tore Ivar Slettemoen sold 228,600 shares of FREYR Battery stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $1.73, for a total value of $395,478.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph Evan Calio acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $1.57 per share, with a total value of $78,500.00. Following the completion of the transaction, the chief financial officer now owns 680,462 shares in the company, valued at $1,068,325.34. The trade was a 7.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 20.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FREYR Battery

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its position in FREYR Battery by 0.7% in 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 during the period. Victory Capital Management Inc. bought a new stake in shares of FREYR Battery in the second quarter worth $26,000. SG Americas Securities LLC increased its holdings in FREYR Battery by 93.3% in the third quarter. SG Americas Securities LLC now owns 43,228 shares of the company’s stock valued at $42,000 after purchasing an additional 20,860 shares during the period. DRW Securities LLC bought a new position in FREYR Battery during the 3rd quarter worth $29,000. Finally, WINTON GROUP Ltd acquired a new position in FREYR Battery during the 2nd quarter worth about $56,000. Institutional investors own 52.31% of the company’s stock.

FREYR Battery Trading Down 8.5 %

Shares of FREYR Battery stock opened at $1.57 on Tuesday. The firm’s 50 day moving average is $1.60 and its 200 day moving average is $1.51. The firm has a market capitalization of $219.87 million, a PE ratio of -2.06 and a beta of 1.03. FREYR Battery has a 1 year low of $0.91 and a 1 year high of $2.85.

FREYR Battery (NYSE:FREY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). During the same period in the previous year, the company earned ($0.07) EPS.

FREYR Battery Company 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.