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

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

Several other hedge funds also recently modified their holdings of FREY. DRW Securities LLC acquired a new stake in shares of FREYR Battery during the third quarter worth approximately $29,000. FSM Wealth Advisors LLC acquired a new stake in shares of FREYR Battery during the fourth quarter worth approximately $51,000. BNP Paribas Financial Markets increased its holdings in shares of FREYR Battery by 182.9% during the third quarter. BNP Paribas Financial Markets now owns 55,575 shares of the company’s stock worth $54,000 after buying an additional 35,928 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of FREYR Battery in the third quarter valued at approximately $95,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of FREYR Battery in the third quarter valued at approximately $103,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BTIG Research raised 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.

Insider Activity at FREYR Battery

In other FREYR Battery news, CFO Joseph Evan Calio acquired 125,000 shares of FREYR Battery stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $1.74 per share, with a total value of $217,500.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tore Ivar Slettemoen sold 391,071 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $1.88, for a total transaction of $735,213.48. Following the completion of the transaction, the director now directly owns 5,080,446 shares in the company, valued at approximately $9,551,238.48. The trade was a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 804,292 shares of company stock valued at $1,439,009 over the last quarter. Corporate insiders own 20.40% of the company’s stock.

FREYR Battery Price Performance

Shares of FREYR Battery stock opened at $1.48 on Friday. The firm has a market cap of $207.93 million, a P/E ratio of -1.95 and a beta of 0.94. 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 fifty-two week low of $0.91 and a fifty-two week high of $3.36.

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.