Encompass Capital Advisors LLC has recently announced that it has increased stake in FREYR Battery (NYSE:FREY) by 46.00%. After grabbing 10.15 million shares, the institutional investor is now in possession of 3.2 million shares of the Industrials Company. The new investment brought the stake of investor firm to 7.27% having worth around $16.54 million. Moreover, Southpoint Capital Advisors LP increased its share by 1.4 million to have a control over 5.0 million shares. And Long Focus Capital Management LLC raised its holdings to 0.81 million shares by acquiring 2.16 million shares or 1.55% of the stake.
FREYR Battery (FREY) concluded trading on 12/27/23 at a closing price of $1.91, with 4.09 million shares of worth about $7.82 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -74.70% during that period and on Wednesday the price saw a loss of about -7.28%. Currently the company’s common shares owned by public are about 139.71M shares, out of which, 117.03M shares are available for trading.
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Invesco WilderHill Clean Energy E, PGIM Jennison Natural Resources F, and Triodos SICAV I – Pioneer Impact are the top 3 mutual funds which are holding stakes in FREYR Battery Invesco WilderHill Clean Energy E is currently holding 1.35 million shares of worth totaling $2.21 million. The company recently came buying 0.0 shares which brought its stake up to 0.97% of the company’s outstanding shares. Triodos SICAV I – Pioneer Impact, after buying 1.18 million shares, have now control over 0.85% of the stake in the company. It holds 0.23 million shares of worth $1.92 million.
FREYR Battery (NYSE: FREY) started trading at $2.05, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 2.0600, or with a loss of -7.28%. Stock saw a price change of -2.05% in past 5 days and over the past one month there was a price change of 26.49%. Year-to-date (YTD), FREY shares are showing a performance of -78.00% which decreased to -78.64% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.40 but also hit the highest price of $11.16 during that period. The average intraday trading volume for FREYR Battery shares is 3.57 million. The stock is currently trading 2.52% above its 20-day simple moving average (SMA20), while that difference is down -20.39% for SMA50 and it goes to -68.06% lower than SMA200.
Encompass Capital Advisors LLC acquired 10.15 million shares of FREYR Battery having value of about $16.54 million. Data submitted at the U.S SEC by Encompass Capital Advisors LLC revealed that the firm now holds 3.2 million shares in the company valued at close to $6107671.94, or have control over 46.00% stake in the company. FREYR Battery (NYSE: FREY) currently have 139.71M outstanding shares and institutions hold larger chunk of about 44.41% of that. Holding of mutual funds in the company is about 36.72% while other institutional holders and individual stake holders have control over 7.79% and — of the stake respectively.
The stock has a current market capitalization of $266.85M and its 3Y-monthly beta is at 0.70. It has posted earnings per share of -$0.14 in the same period. It has Quick Ratio of 7.05 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FREY, volatility over the week remained 8.67% while standing at 9.99% over the month.
Analysts are in expectations that FREYR Battery (FREY) stock would likely to be making an EPS of $Fidelity MSCI Real Estate Index in the current quarter, while forecast for next quarter EPS is $26.78 and it is $ETF for next year. For the current quarter EPS, analysts have given the company a lowest target $Whole Earth Brands, Inc. which is $Fresh2 Group Limited at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $FREY in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 7.16% while it is estimated to decrease by -46.35% in next year.
Analysts at 6 brokerage firms have issued recommendations for the FREYR Battery (FREY)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.17. Out of those 6 Wall Street analysts, 0 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on November 14, 2023 offering an Equal-weight rating for the stock and assigned a target price range of between $13 and $2 to it.
