FSM Wealth Advisors LLC Acquires New Position in FREYR Battery, Inc. (NYSE:FREY)

FSM Wealth Advisors LLC bought a new position in shares of FREYR Battery, Inc. (NYSE:FREY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,622 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of FREYR Battery during the second quarter worth about $170,000. The Manufacturers Life Insurance Company acquired a new stake in FREYR Battery during the 2nd quarter valued at approximately $75,000. SG Americas Securities LLC boosted its holdings in shares of FREYR Battery by 93.3% in the 3rd quarter. SG Americas Securities LLC now owns 43,228 shares of the company’s stock valued at $42,000 after acquiring an additional 20,860 shares during the last quarter. Green Alpha Advisors LLC boosted its holdings in shares of FREYR Battery by 29.0% in the 3rd quarter. Green Alpha Advisors LLC now owns 257,767 shares of the company’s stock valued at $250,000 after acquiring an additional 57,951 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of FREYR Battery by 0.7% in the third quarter. Jennison Associates LLC now owns 1,327,877 shares of the company’s stock worth $1,288,000 after acquiring an additional 9,667 shares during the period. Institutional investors and hedge funds own 52.31% of the company’s stock.

FREYR Battery Trading Down 0.8 %

FREYR Battery stock opened at $1.87 on Tuesday. The firm has a market cap of $262.01 million, a PE ratio of -2.45 and a beta of 0.94. FREYR Battery, Inc. has a 12 month low of $0.91 and a 12 month high of $3.36. The stock’s 50 day simple moving average is $2.21 and its two-hundred day simple moving average is $1.65.

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

Analyst Upgrades and Downgrades

Separately, BTIG Research raised shares of FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Friday, December 20th.

Insider Buying and Selling

In related news, CFO Joseph Evan Calio acquired 50,000 shares of FREYR Battery stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $1.57 per share, for a total transaction of $78,500.00. Following the completion of the transaction, the chief financial officer now owns 680,462 shares in the company, valued at $1,068,325.34. This represents a 7.93 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tore Ivar Slettemoen sold 391,071 shares of the company’s 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 completion of the sale, the director now owns 5,080,446 shares of the company’s stock, valued at approximately $9,551,238.48. The trade was a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 804,292 shares of company stock worth $1,439,009 in the last 90 days. Insiders own 20.40% of the company’s stock.

FREYR Battery 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.