FREYR Battery, Inc. (NYSE:FREY) Director Tore Ivar Slettemoen Sells 391,071 Shares

FREYR Battery, Inc. (NYSE:FREY) Director Tore Ivar Slettemoen sold 391,071 shares of the firm’s stock in a transaction that occurred 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 $9,551,238.48. The trade was a 7.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were 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 stock opened at $2.16 on Friday. The stock has a 50 day simple moving average of $1.68 and a 200-day simple moving average of $1.51. FREYR Battery, Inc. has a 1-year low of $0.91 and a 1-year high of $2.85. The company 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). During the same quarter last year, the firm earned ($0.07) EPS.

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 note on Friday.

Institutional Investors Weigh In On FREYR Battery

Several large investors have recently bought and sold shares of the company. Barclays PLC boosted its stake in FREYR Battery by 274.9% during the 3rd quarter. Barclays PLC now owns 147,124 shares of the company’s stock worth $142,000 after purchasing an additional 107,881 shares during the last quarter. XTX Topco Ltd acquired a new position in FREYR Battery during the third quarter worth about $95,000. State Street Corp grew its stake in FREYR Battery by 24.4% during the 3rd quarter. State Street Corp now owns 1,567,499 shares of the company’s stock valued at $1,521,000 after acquiring an additional 307,426 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in FREYR Battery in the 3rd quarter valued at about $103,000. Finally, Erste Asset Management GmbH purchased a new position in FREYR Battery in the 3rd quarter worth approximately $156,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

About FREYR Battery

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.