Tore Ivar Slettemoen Sells 391,071 Shares of FREYR Battery, Inc. (NYSE:FREY) Stock

FREYR Battery, Inc. (NYSE:FREY) Director Tore Ivar Slettemoen sold 391,071 shares of FREYR Battery stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $1.88, for a total transaction of $735,213.48. Following the completion of the sale, the director now owns 5,080,446 shares of the company’s stock, valued at $9,551,238.48. This trade represents a 7.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tore Ivar Slettemoen also recently made the following trade(s):

• On Thursday, December 12th, Tore Ivar Slettemoen sold 184,621 shares of FREYR Battery stock. The shares were sold at an average price of $1.67, for a total transaction of $308,317.07.
• On Tuesday, December 10th, Tore Ivar Slettemoen sold 228,600 shares of FREYR Battery stock. The stock was sold at an average price of $1.73, for a total value of $395,478.00.

FREYR Battery Stock Performance

NYSE FREY traded up $0.35 on Friday, reaching $2.16. 6,311,960 shares of the company’s stock traded hands, compared to its average volume of 2,101,415. FREYR Battery, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $2.85. The firm has a market cap of $303.46 million, a price-to-earnings ratio of -2.84 and a beta of 1.03. The stock has a 50 day moving average price of $1.65 and a 200-day moving average price of $1.51.

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

Wall Street Analysts Forecast Growth

Separately, BTIG Research upgraded shares of FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Friday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FREY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in FREYR Battery by 45.3% in the 3rd 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. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of FREYR Battery in the second quarter valued at about $676,000. SG Americas Securities LLC purchased a new stake in shares of FREYR Battery during the second quarter worth about $38,000. BNP Paribas Financial Markets raised its position in shares of FREYR Battery by 182.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,575 shares of the company’s stock worth $54,000 after purchasing an additional 35,928 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of FREYR Battery during the 2nd quarter worth about $218,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

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.