Morgan Stanley set a $26.00 price objective on FREYR Battery (NYSE:FREY – Get Rating) in a research report released on Wednesday, The Fly reports. The firm currently has an overweight rating on the stock.
FREY has been the subject of a number of other research reports. BTIG Research upped their price target on FREYR Battery from $20.00 to $25.00 and gave the stock a buy rating in a research report on Thursday, September 1st. Credit Suisse Group upped their price target on FREYR Battery to $16.00 in a research report on Monday, August 15th. Finally, The Goldman Sachs Group raised FREYR Battery from a neutral rating to a buy rating and upped their price target for the stock from $11.00 to $19.00 in a research report on Wednesday, August 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, FREYR Battery has a consensus rating of Moderate Buy and an average target price of $21.50.
FREYR Battery Price Performance
Shares of FREY opened at $15.39 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.74 and a current ratio of 11.74. The stock has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $9.78. FREYR Battery has a 52-week low of $6.42 and a 52-week high of $15.95. The firm has a market capitalization of $1.79 billion, a PE ratio of -16.73 and a beta of 0.67.
Institutional Investors Weigh In On FREYR Battery
A number of institutional investors and hedge funds have recently made changes to their positions in FREY. Quantbot Technologies LP raised its stake in shares of FREYR Battery by 653.2% during the 2nd quarter. Quantbot Technologies LP now owns 3,879 shares of the company’s stock worth $26,000 after purchasing an additional 3,364 shares in the last quarter. First PREMIER Bank bought a new stake in shares of FREYR Battery during the 2nd quarter worth approximately $31,000. Royal Bank of Canada raised its stake in FREYR Battery by 158.6% in the 1st quarter. Royal Bank of Canada now owns 3,931 shares of the company’s stock valued at $49,000 after acquiring an additional 2,411 shares during the period. Ogorek Anthony Joseph NY ADV bought a new stake in FREYR Battery in the 1st quarter valued at $62,000. Finally, Creative Planning bought a new stake in FREYR Battery in the 2nd quarter valued at $72,000. Institutional investors own 56.29% of the company’s stock.
FREYR Battery Company Profile
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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