Zacks: Analysts Expect FREYR Battery (NYSE:FREY) to Announce -$0.18 EPS

Wall Street brokerages forecast that FREYR Battery (NYSE:FREY – Get Rating) will post ($0.18) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for FREYR Battery’s earnings. FREYR Battery reported earnings per share of ($2.48) during the same quarter last year, which suggests a positive year-over-year growth rate of 92.7%. The company is scheduled to issue its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that FREYR Battery will report full-year earnings of ($1.07) per share for the current financial year, with EPS estimates ranging from ($1.21) to ($0.92). For the next financial year, analysts forecast that the company will report earnings of ($1.39) per share, with EPS estimates ranging from ($1.60) to ($1.17). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow FREYR Battery.

FREYR Battery (NYSE:FREY – Get Rating) last announced its quarterly earnings results on Monday, February 28th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the company earned ($0.46) earnings per share.

A number of equities analysts recently issued reports on FREY shares. US Capital Advisors started coverage on FREYR Battery in a report on Thursday, March 17th. They issued a “buy” rating for the company. Clarkson Capital assumed coverage on FREYR Battery in a report on Wednesday, January 26th. They issued a “buy” rating for the company. Finally, Zacks Investment Research downgraded FREYR Battery from a “hold” rating to a “strong sell” rating in a report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, FREYR Battery has a consensus rating of “Buy” and an average target price of $19.33.

FREY traded down $0.43 on Friday, reaching $8.57. The company’s stock had a trading volume of 1,102,400 shares, compared to its average volume of 862,395. The stock has a 50 day moving average of $10.20 and a two-hundred day moving average of $10.30. The company has a market capitalization of $997.89 million, a price-to-earnings ratio of -2.69 and a beta of 0.42. FREYR Battery has a fifty-two week low of $7.65 and a fifty-two week high of $14.37.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its stake in shares of FREYR Battery by 216.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,160 shares of the company’s stock worth $36,000 after purchasing an additional 2,160 shares during the last quarter. National Bank of Canada FI purchased a new position in FREYR Battery in the fourth quarter worth $40,000. IFP Advisors Inc raised its position in FREYR Battery by 900.0% in the fourth quarter. IFP Advisors Inc now owns 5,000 shares of the company’s stock worth $56,000 after acquiring an additional 4,500 shares in the last quarter. Orion Capital Management LLC raised its position in FREYR Battery by 150.0% in the fourth quarter. Orion Capital Management LLC now owns 5,000 shares of the company’s stock worth $56,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Ogorek Anthony Joseph NY ADV purchased a new position in FREYR Battery in the first quarter worth $62,000. Institutional investors and hedge funds own 55.36% of the company’s stock.

About FREYR Battery (Get Rating)

FREYR Battery engages in the production and sale of battery cells for stationary energy storage, electric mobility, and marine applications in Europe and internationally. The company designs and manufactures lithium-ion based battery cell facilities. The company was founded in 2018 and is based in Luxembourg.

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