Insider Selling: FREYR Battery, Inc. (NYSE:FREY) Director Sells $735,213.48 in Stock

FREYR Battery, Inc. (NYSE:FREY) Director Tore Ivar Slettemoen sold 391,071 shares of the 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 position. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $1.67, for a total value of $308,317.07.
• On Tuesday, December 10th, Tore Ivar Slettemoen sold 228,600 shares of FREYR Battery stock. The shares were sold at an average price of $1.73, for a total transaction of $395,478.00.

FREYR Battery Stock Up 19.3 %

Shares of NYSE:FREY opened at $2.16 on Monday. The company has a market cap of $303.46 million, a P/E ratio of -2.84 and a beta of 1.03. The business has a fifty day simple moving average of $1.68 and a 200-day simple moving average of $1.51. FREYR Battery, Inc. has a 52 week low of $0.91 and a 52 week high of $2.85.

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

Wall Street Analyst Weigh In

Separately, BTIG Research raised shares of FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Friday.

Hedge Funds Weigh In On FREYR Battery

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in FREYR Battery in the second quarter valued at $38,000. Bank of New York Mellon Corp acquired a new position in shares of FREYR Battery in the 2nd quarter valued at about $571,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of FREYR Battery during the 2nd quarter worth about $676,000. FFT Wealth Management LLC acquired a new stake in FREYR Battery during the 2nd quarter worth approximately $65,000. Finally, Rhumbline Advisers purchased a new position in FREYR Battery in the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

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.