FREYR Battery Inc. (FREY)’s Stock Price Falls Due To Weak Fundamental Momentum

FREYR Battery Inc. (NYSE:FREY) has a beta value of 0.74 and has seen 1.09 million shares traded in the recent trading session. The company, currently valued at $136.25M, closed the recent trade at $0.97 per share which meant it lost -$0.04 on the day or -3.98% during that session. The FREY stock price is -451.55% off its 52-week high price of $5.35 and 1.03% above the 52-week low of $0.96. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.09 million shares traded. The 3-month trading volume is 1.56 million shares.

The consensus among analysts is that FREYR Battery Inc. (FREY) is Buy stock at the moment, with a recommendation rating of 3.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 3 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.18.

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FREYR Battery Inc. (NYSE:FREY) trade information

Sporting -3.98% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the FREY stock price touched $0.97 or saw a rise of 15.65%. Year-to-date, FREYR Battery Inc. shares have moved -48.14%, while the 5-day performance has seen it change -5.84%. Over the past 30 days, the shares of FREYR Battery Inc. (NYSE:FREY) have changed -20.51%. Short interest in the company has seen 12.86 million shares shorted with days to cover at 10.44.

Wall Street analysts have a consensus price target for the stock at $19, which means that the shares’ value could jump 94.89% from the levels at last check today. The projected low price target is $13.0 while the price target rests at a high of $25.0. In that case, then, we find that the latest price level in today’s session is -2477.32% off the targeted high while a plunge would see the stock gain -1240.21% from the levels at last check today.

FREYR Battery Inc. (FREY) estimates and forecasts

The company’s shares have lost -35.77% over the past 6 months.

2 analysts offering their estimates for the company have set an average revenue estimate of 160k for the current quarter. 2 have an estimated revenue figure of 450k for the next ending quarter.

FREY Dividends

FREYR Battery Inc. is expected to release its next earnings report on 2024-Nov-09 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

FREYR Battery Inc. (NYSE:FREY)’s Major holders

The top two institutional holders are OGOREK ANTHONY JOSEPH /NY/ /ADV with over 5084.0 shares worth more than $8000.0. As of 2024-06-30, OGOREK ANTHONY JOSEPH /NY/ /ADV held 0.0036% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and iShares Russell 2000 ETF. As of Aug 31, 2024, the former fund manager holds about 2.27% shares in the company for having 3.19 shares of worth $3.16 million while later fund manager owns 2.95 shares of worth $2.92 million as of Aug 31, 2024, which makes it owner of about 2.10% of company’s outstanding stock.