Skandinaviska Enskilda Banken AB publ Sells 76,938 Shares of FREYR Battery, Inc. (NYSE:FREY)

Skandinaviska Enskilda Banken AB publ cut its stake in shares of FREYR Battery, Inc. (NYSE:FREY) by 30.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,831 shares of the company’s stock after selling 76,938 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.13% of FREYR Battery worth $477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in FREYR Battery by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 250,777 shares of the company’s stock valued at $647,000 after acquiring an additional 7,373 shares in the last quarter. Jennison Associates LLC grew its position in shares of FREYR Battery by 0.7% during the 3rd quarter. Jennison Associates LLC now owns 1,327,877 shares of the company’s stock valued at $1,288,000 after purchasing an additional 9,667 shares in the last quarter. Truist Financial Corp purchased a new position in shares of FREYR Battery during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in shares of FREYR Battery in the fourth quarter worth $28,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of FREYR Battery in the fourth quarter worth $36,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, BTIG Research upgraded FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Friday, December 20th.

FREYR Battery Price Performance

Shares of FREY opened at $1.52 on Tuesday. FREYR Battery, Inc. has a 1-year low of $0.91 and a 1-year high of $3.36. The company has a market capitalization of $213.54 million, a P/E ratio of -2.00 and a beta of 0.94. The firm’s 50 day simple moving average is $1.89 and its 200 day simple moving average is $1.70.

Insider Transactions at FREYR Battery

In other news, Director Tore Ivar Slettemoen sold 391,071 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $1.88, for a total value of $735,213.48. Following the completion of the transaction, the director now directly owns 5,080,446 shares in the company, valued at approximately $9,551,238.48. This represents a 7.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.40% of the company’s stock.

FREYR Battery 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.