FREYR Battery SA (NYSE:FREY) Receives Consensus Rating of “Buy” from Analysts

FREYR Battery SA (NYSE:FREY) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $19.33.

A number of equities research analysts recently weighed in on the company. BTIG Research assumed coverage on FREYR Battery in a research note on Tuesday, August 3rd. They issued a “buy” rating and a $20.00 price target on the stock. Zacks Investment Research cut FREYR Battery from a “hold” rating to a “sell” rating in a research note on Friday, November 19th. Morgan Stanley initiated coverage on FREYR Battery in a research note on Tuesday, August 3rd. They issued an “overweight” rating and a $18.00 price target on the stock. Pareto Securities initiated coverage on FREYR Battery in a research report on Monday, August 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Credit Suisse Group initiated coverage on FREYR Battery in a research report on Tuesday, October 12th. They set an “outperform” rating on the stock.

Shares of FREYR Battery stock traded down $0.13 on Thursday, reaching $11.17. 1,403,272 shares of the company were exchanged, compared to its average volume of 1,037,964. FREYR Battery has a one year low of $7.71 and a one year high of $14.37. The firm has a market cap of $1.30 billion, a P/E ratio of -3.29 and a beta of -0.11. The firm’s 50-day moving average is $10.52.

FREYR Battery (NYSE:FREY) last announced its quarterly earnings data on Sunday, November 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.33). During the same period in the prior year, the company posted ($0.04) earnings per share. On average, sell-side analysts predict that FREYR Battery will post -0.75 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new stake in shares of FREYR Battery during the 3rd quarter worth $96,000. PNC Financial Services Group Inc. acquired a new stake in shares of FREYR Battery during the 3rd quarter worth $113,000. NEXT Financial Group Inc acquired a new stake in shares of FREYR Battery during the 3rd quarter worth $118,000. Penserra Capital Management LLC acquired a new stake in shares of FREYR Battery during the 3rd quarter worth $120,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of FREYR Battery during the 3rd quarter worth $138,000. Hedge funds and other institutional investors own 68.21% of the company’s stock.

About FREYR Battery

FREYR offers a clean Nordic solution to the rapidly growing global demand for high-density and cost-competitive battery cells for stationary energy storage (ESS), electric mobility, and marine applications.

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Analyst Recommendations for FREYR Battery (NYSE:FREY)

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