FREYR Battery, Inc. (NYSE:FREY – Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 11,950,000 shares, a decline of 6.9% from the July 15th total of 12,840,000 shares. Based on an average trading volume of 1,980,000 shares, the days-to-cover ratio is presently 6.0 days. Currently, 9.9% of the company’s stock are sold short.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in FREY. Franklin Resources Inc. grew its holdings in FREYR Battery by 10.0% during the fourth quarter. Franklin Resources Inc. now owns 915,700 shares of the company’s stock valued at $1,712,000 after purchasing an additional 83,400 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in FREYR Battery in the 4th quarter valued at $28,000. Quadrature Capital Ltd bought a new position in FREYR Battery in the 4th quarter worth $281,000. Green Alpha Advisors LLC lifted its position in FREYR Battery by 19.8% during the 1st quarter. Green Alpha Advisors LLC now owns 241,029 shares of the company’s stock worth $405,000 after acquiring an additional 39,813 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in FREYR Battery during the first quarter valued at about $2,012,000. Institutional investors and hedge funds own 52.31% of the company’s stock.
FREYR Battery Stock Down 4.7 %
Shares of FREY opened at $1.23 on Wednesday. The firm has a market cap of $171.84 million, a price-to-earnings ratio of -1.98 and a beta of 0.76. The company’s fifty day moving average is $1.60 and its 200-day moving average is $1.74. FREYR Battery has a 12 month low of $1.10 and a 12 month high of $6.89.
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.
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