IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 324,425 Shares of FREYR Battery, Inc. (NYSE:FREY)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in FREYR Battery, Inc. (NYSE:FREY) by 81.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 73,342 shares of the company’s stock after selling 324,425 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in FREYR Battery were worth $189,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp purchased a new position in FREYR Battery in the 4th quarter worth approximately $26,000. Cibc World Markets Corp bought a new stake in shares of FREYR Battery during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. purchased a new position in shares of FREYR Battery in the fourth quarter worth $28,000. Raymond James Financial Inc. purchased a new position in FREYR Battery during the fourth quarter valued at $36,000. Finally, AXQ Capital LP bought a new stake in FREYR Battery in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

FREYR Battery Price Performance

Shares of FREY opened at $1.42 on Friday. The stock has a market capitalization of $199.50 million, a price-to-earnings ratio of -1.87 and a beta of 0.94. FREYR Battery, Inc. has a 1 year low of $0.91 and a 1 year high of $3.36. The business’s 50 day simple moving average is $1.73 and its 200-day simple moving average is $1.72.

Analyst Ratings Changes

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

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.