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 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 sale, the director now directly owns 5,080,446 shares in the company, valued at approximately $9,551,238.48. This trade represents a 7.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 stock was 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 transaction of $395,478.00.

FREYR Battery Price Performance

Shares of FREY traded up $0.35 during mid-day trading on Friday, reaching $2.16. The stock had a trading volume of 6,311,960 shares, compared to its average volume of 2,101,415. The business’s fifty day moving average is $1.65 and its 200 day moving average is $1.51. FREYR Battery, Inc. has a 52-week low of $0.91 and a 52-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.

FREYR Battery (NYSE:FREY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.02). During the same quarter in the previous year, the firm earned ($0.07) EPS.

Institutional Investors Weigh In On FREYR Battery

A number of institutional investors have recently made changes to their positions in FREY. Victory Capital Management Inc. purchased a new position in shares of FREYR Battery during the 2nd quarter worth approximately $26,000. SG Americas Securities LLC acquired a new stake in shares of FREYR Battery in the second quarter valued at $38,000. DRW Securities LLC purchased a new stake in shares of FREYR Battery in the 3rd quarter valued at $29,000. WINTON GROUP Ltd acquired a new position in FREYR Battery during the 2nd quarter worth about $56,000. Finally, American Century Companies Inc. purchased a new position in FREYR Battery during the 2nd quarter valued at about $61,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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.

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.