FREYR Battery Target of Unusually High Options Trading (NYSE:FREY)

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

FREYR Battery Stock Up 16.4 %

Shares of FREY opened at $2.98 on Wednesday. FREYR Battery has a 52 week low of $0.91 and a 52 week high of $3.00. The stock has a market cap of $418.66 million, a P/E ratio of -3.92 and a beta of 1.03. The business’s 50 day moving average price is $1.71 and its 200-day moving average price is $1.50.

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

Insider Buying and Selling at FREYR Battery

In other FREYR Battery news, CFO Joseph Evan Calio bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 directly 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tore Ivar Slettemoen sold 184,621 shares of FREYR Battery stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $1.67, for a total transaction of $308,317.07. Following the sale, the director now directly owns 6,616,105 shares in the company, valued at $11,048,895.35. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 804,292 shares of company stock worth $1,439,009. 20.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FREYR Battery

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in FREYR Battery in the 2nd quarter valued at approximately $26,000. DRW Securities LLC purchased a new stake in shares of FREYR Battery during the third quarter valued at $29,000. SG Americas Securities LLC bought a new stake in FREYR Battery in the 2nd quarter worth about $38,000. BNP Paribas Financial Markets raised its position in FREYR Battery by 182.9% in the 3rd 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 during the last quarter. Finally, WINTON GROUP Ltd bought a new position in FREYR Battery during the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors 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 research report on Friday, December 20th.

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.