FREYR Battery (NYSE:FREY) Stock Price Down 1.6% – What’s Next?

FREYR Battery, Inc. (NYSE:FREY)’s share price traded down 1.6% on Monday . The stock traded as low as $6.0201 and last traded at $6.21. 17,342,262 shares traded hands during mid-day trading, an increase of 582% from the average session volume of 2,541,737 shares. The stock had previously closed at $6.31.

FREYR Battery Trading Down 1.6%

The firm has a market capitalization of $872.44 million, a P/E ratio of -8.17 and a beta of 0.94. The company has a 50-day moving average of $7.30 and a 200-day moving average of $4.53.

About FREYR Battery

FREYR Battery is a sustainable battery technology and manufacturing company focused on producing high-performance lithium-ion cells for electric vehicles (EVs) and energy storage systems. The company aims to leverage low-carbon hydroelectric power in Norway and renewable energy sources in other regions to supply clean battery cells that meet the growing global demand for decarbonized transportation and grid resilience. FREYR’s product roadmap includes battery modules, packs and integrated storage solutions, designed to serve auto manufacturers, utilities and large-scale commercial energy users.

Headquartered in Oslo, Norway, FREYR Battery was founded in 2018 with the mission of establishing cost-efficient, scalable gigafactories in strategic locations.