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FREYR Battery (NYSE: FREY) Stock: Boom Or Bust? What Happens Next?

During the last session, FREYR Battery (NYSE:FREY)’s traded shares were 1.56 million, with the beta value of the company hitting 0.67. At the end of the trading day, the stock’s price was $7.16, reflecting an intraday loss of -4.15% or -$0.31. The 52-week high for the FREY share is $16.94, that puts it down -136.59 from that peak though still a striking 13.41% gain since the share price plummeted to a 52-week low of $6.20. The company’s market capitalization is $1.02B, and the average intraday trading volume over the past 10 days was 1.82 million shares, and the average trade volume was 2.44 million shares over the past three months.

FREYR Battery (FREY) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.90. FREY has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.25.

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FREYR Battery (NYSE:FREY) trade information

FREYR Battery (FREY) registered a -4.15% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.15% in intraday trading to $7.16 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -2.19%, and it has moved by 3.77% in 30 days. Based on these gigs, the overall price performance for the year is -11.17%. The short interest in FREYR Battery (NYSE:FREY) is 11.58 million shares and it means that shorts have 3.92 day(s) to cover.

The consensus price target of analysts on Wall Street is $14.75, which implies an increase of 51.46% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $12.00 and $20.00 respectively. As a result, FREY is trading at a discount of -179.33% off the target high and -67.6% off the low.

FREYR Battery (FREY) estimates and forecasts

Statistics show that FREYR Battery has underperformed its competitors in share price, compared to the industry in which it operates. FREYR Battery (FREY) shares have gone down -49.33% during the last six months, with a year-to-date growth rate less than the industry average at -45.45% against -8.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -725.00% this quarter and then jump 65.00% in the quarter after that.

Revenue for the current quarter is expected to be $250k as predicted by 2 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $1.75 million by the end of Sep 2023.

While earnings are projected to return 32.70% in 2023.

FREY Dividends

FREYR Battery is due to release its next quarterly earnings on May 15. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

FREYR Battery (NYSE:FREY)’s Major holders

FREYR Battery insiders own 16.77% of total outstanding shares while institutional holders control 49.84%, with the float percentage being 59.87%. Kim, LLC is the largest shareholder of the company, while 209 institutions own stock in it. As of Mar 30, 2023, the company held over 11.5 million shares (or 8.23% of all shares), a total value of $102.23 million in shares.

The next largest institutional holding, with 6.61 million shares, is of Encompass Capital Advisors, LLC’s that is approximately 4.73% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $58.72 million.

Also, the Mutual Funds coming in first place with the largest holdings of FREYR Battery (FREY) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and PGIM Jennison Natural Resources Fd. Data provided on Mar 30, 2023 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 1.36 million shares. This amounts to just over 0.98 percent of the company’s overall shares, with a $12.13 million market value. The same data shows that the other fund manager holds slightly less at 1.22 million, or about 0.87% of the stock, which is worth about $11.05 million.

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