Investors Buy High Volume of FREYR Battery Call Options (NYSE:FREY)

FREYR Battery (NYSE:FREYGet Rating) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 5,535 call options on the stock. This is an increase of approximately 181% compared to the typical daily volume of 1,972 call options.

Wall Street Analysts Forecast Growth

FREY has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded shares of FREYR Battery from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $19.00 in a research note on Wednesday, August 24th. BTIG Research raised their target price on shares of FREYR Battery from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Morgan Stanley set a $26.00 target price on shares of FREYR Battery and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Credit Suisse Group raised their target price on shares of FREYR Battery to $16.00 in a research report on Monday, August 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

FREYR Battery Price Performance

Shares of NYSE FREY opened at $15.37 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.74 and a quick ratio of 11.74. The stock has a fifty day moving average price of $11.46 and a 200 day moving average price of $9.83. FREYR Battery has a 1-year low of $6.42 and a 1-year high of $16.57. The company has a market cap of $1.79 billion, a PE ratio of -16.71 and a beta of 0.67.

FREYR Battery (NYSE:FREYGet Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.30. During the same period last year, the company earned ($0.04) EPS. Sell-side analysts forecast that FREYR Battery will post -1.03 EPS for the current year.

Institutional Investors Weigh In On FREYR Battery

Several hedge funds have recently modified their holdings of FREY. Long Focus Capital Management LLC acquired a new stake in FREYR Battery in the fourth quarter valued at $447,000. Sylebra Capital Ltd lifted its holdings in FREYR Battery by 2.3% in the fourth quarter. Sylebra Capital Ltd now owns 12,705,935 shares of the company’s stock valued at $142,052,000 after acquiring an additional 286,695 shares during the period. Candlestick Capital Management LP lifted its holdings in FREYR Battery by 7.1% in the fourth quarter. Candlestick Capital Management LP now owns 3,750,100 shares of the company’s stock valued at $41,926,000 after acquiring an additional 250,100 shares during the period. L & S Advisors Inc lifted its holdings in FREYR Battery by 6.6% in the first quarter. L & S Advisors Inc now owns 156,790 shares of the company’s stock valued at $1,922,000 after acquiring an additional 9,666 shares during the period. Finally, Green Alpha Advisors LLC acquired a new stake in FREYR Battery in the second quarter valued at $370,000. 56.29% of the stock is owned by institutional investors and hedge funds.

FREYR Battery Company Profile

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FREYR Battery engages in the production and sale of battery cells for stationary energy storage, electric mobility, and marine applications in Europe and internationally. The company designs and manufactures lithium-ion based battery cell facilities. The company was founded in 2018 and is based in Luxembourg.

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