FREYR Battery, Inc. (NYSE:FREY) Short Interest Update

FREYR Battery, Inc. (NYSE:FREY) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 11,790,000 shares, a drop of 9.3% from the September 15th total of 13,000,000 shares. Currently, 9.7% of the shares of the company are short sold. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is presently 9.0 days.

FREYR Battery Trading Down 4.7 %

NYSE FREY traded down $0.05 on Thursday, hitting $1.02. 535,006 shares of the company traded hands, compared to its average volume of 1,600,156. The business’s 50 day moving average price is $1.10 and its 200-day moving average price is $1.58. The company has a market capitalization of $142.50 million, a price-to-earnings ratio of -1.65 and a beta of 0.73. FREYR Battery has a 52-week low of $0.91 and a 52-week high of $4.34.

FREYR Battery (NYSE:FREY) last issued its earnings results on Friday, August 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). During the same quarter in the prior year, the company earned ($0.18) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new stake in FREYR Battery during the second quarter valued at $26,000. Bayesian Capital Management LP bought a new position in FREYR Battery in the first quarter worth approximately $33,000. SG Americas Securities LLC purchased a new stake in shares of FREYR Battery during the 2nd quarter worth $38,000. WINTON GROUP Ltd purchased a new stake in shares of FREYR Battery during the second quarter valued at about $56,000. Finally, American Century Companies Inc. purchased a new stake in FREYR Battery during the second quarter valued at approximately $61,000. Institutional investors own 52.31% of the company’s stock.

About FREYR Battery

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.