FREYR Battery (NYSE:FREY) Given a $26.00 Price Target at Morgan Stanley

Morgan Stanley set a $26.00 price objective on FREYR Battery (NYSE:FREYGet 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.

FREYR Battery (NYSE:FREYGet Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.30. During the same period last year, the business earned ($0.04) earnings per share. Sell-side analysts predict that FREYR Battery will post -1 EPS for the current fiscal year.

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

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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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