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

FREYR Battery, Inc. (NYSE:FREY) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 11,770,000 shares, a growth 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 company’s shares are short sold.

FREYR Battery Price Performance

NYSE:FREY traded up $0.05 during mid-day trading on Monday, hitting $2.16. 1,778,238 shares of the company’s stock were exchanged, compared to its average volume of 2,014,995. FREYR Battery has a one year low of $0.91 and a one year high of $2.85. The business has a fifty day moving average price of $1.22 and a 200 day moving average price of $1.53. The company has a market cap of $302.76 million, a PE ratio of -2.84 and a beta of 0.72.

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 analysts’ consensus estimates of ($0.18) by ($0.02). During the same quarter last year, the company posted ($0.07) EPS.

Institutional Investors Weigh In On FREYR Battery

Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in shares of FREYR Battery in the 2nd quarter valued at about $26,000. DRW Securities LLC bought a new position in shares of FREYR Battery during the 3rd quarter worth approximately $29,000. Bayesian Capital Management LP acquired a new position in FREYR Battery during the 1st quarter valued at approximately $33,000. SG Americas Securities LLC acquired a new position in FREYR Battery during the 2nd quarter valued at approximately $38,000. Finally, BNP Paribas Financial Markets increased its stake in FREYR Battery by 182.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,575 shares of the company’s stock valued at $54,000 after purchasing an additional 35,928 shares in the last quarter. 52.31% of the stock is owned by hedge funds and other institutional investors.

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.