FREYR Battery, Inc. (NYSE:FREY) Position Boosted by Barclays PLC

Barclays PLC raised its holdings in shares of FREYR Battery, Inc. (NYSE:FREY) by 274.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,124 shares of the company’s stock after acquiring an additional 107,881 shares during the period. Barclays PLC owned approximately 0.10% of FREYR Battery worth $142,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FREY. Bank of New York Mellon Corp bought a new stake in FREYR Battery in the second quarter worth about $571,000. Rhumbline Advisers bought a new stake in shares of FREYR Battery in the 2nd quarter worth approximately $203,000. Victory Capital Management Inc. acquired a new stake in shares of FREYR Battery during the 2nd quarter valued at $26,000. American Century Companies Inc. bought a new stake in shares of FREYR Battery during the 2nd quarter worth $61,000. Finally, WINTON GROUP Ltd acquired a new position in shares of FREYR Battery in the 2nd quarter worth $56,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

Insider Buying and Selling at FREYR Battery

In other news, Director Tore Ivar Slettemoen sold 391,071 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $1.88, for a total value of $735,213.48. Following the sale, the director now owns 5,080,446 shares in the company, valued at approximately $9,551,238.48. This trade represents a 7.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joseph Evan Calio acquired 50,000 shares of FREYR Battery stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $1.57 per share, with a total value of $78,500.00. Following the transaction, the chief financial officer now directly owns 680,462 shares in the company, valued at approximately $1,068,325.34. This trade represents a 7.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 804,292 shares of company stock worth $1,439,009 over the last three months. Corporate insiders own 20.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BTIG Research upgraded FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Friday, December 20th.

FREYR Battery Price Performance

NYSE FREY opened at $2.75 on Wednesday. The company has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $1.58. FREYR Battery, Inc. has a 52-week low of $0.91 and a 52-week high of $3.36. The firm has a market capitalization of $386.35 million, a price-to-earnings ratio of -3.62 and a beta of 0.97.

FREYR Battery (NYSE:FREY) last released its earnings results on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). During the same period in the prior year, the firm posted ($0.07) EPS.

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.