Short Interest in FREYR Battery, Inc. (NYSE:FREY) Grows By 12.4%

FREYR Battery, Inc. (NYSE:FREY) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 11,770,000 shares, an increase of 12.4% from the October 15th total of 10,470,000 shares. Based on an average daily volume of 2,460,000 shares, the short-interest ratio is presently 4.8 days. Approximately 9.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On FREYR Battery

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in FREYR Battery by 274.9% in the 3rd quarter. Barclays PLC now owns 147,124 shares of the company’s stock worth $142,000 after purchasing an additional 107,881 shares during the period. XTX Topco Ltd purchased a new position in shares of FREYR Battery in the third quarter valued at about $95,000. State Street Corp increased its position in shares of FREYR Battery by 24.4% in the third quarter. State Street Corp now owns 1,567,499 shares of the company’s stock valued at $1,521,000 after acquiring an additional 307,426 shares during the period. Quadrature Capital Ltd purchased a new position in shares of FREYR Battery in the third quarter valued at about $103,000. Finally, Erste Asset Management GmbH purchased a new position in shares of FREYR Battery in the third quarter valued at about $156,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

FREYR Battery Trading Up 2.6 %

Shares of FREYR Battery stock traded up $0.05 on Monday, hitting $2.16. 1,778,238 shares of the company traded hands, compared to its average volume of 2,014,995. The firm’s 50-day simple moving average is $1.22 and its 200 day simple moving average is $1.53. The company has a market cap of $302.76 million, a P/E ratio of -2.84 and a beta of 0.72. FREYR Battery has a 12-month low of $0.91 and a 12-month high of $2.85.

FREYR Battery (NYSE:FREY) last posted its quarterly earnings data 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) EPS.

FREYR Battery Company 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.