CenterBook Partners LP Buys New Stake in FREYR Battery, Inc. (NYSE:FREY)

CenterBook Partners LP acquired a new stake in FREYR Battery, Inc. (NYSE:FREY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 247,988 shares of the company's stock, valued at approximately $640,000. CenterBook Partners LP owned about 0.18% of FREYR Battery at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FREY. Truist Financial Corp acquired a new position in FREYR Battery during the fourth quarter valued at approximately $26,000. Cibc World Markets Corp purchased a new position in FREYR Battery in the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new stake in shares of FREYR Battery during the 4th quarter valued at about $28,000. Dynamic Technology Lab Private Ltd acquired a new position in FREYR Battery during the 4th quarter worth approximately $31,000. Finally, Raymond James Financial Inc. purchased a new position in FREYR Battery in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 52.31% of the company's stock.

Analysts Set New Price Targets

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 note on Friday, December 20th.

FREYR Battery Price Performance

FREY traded down $0.02 during trading hours on Thursday, hitting $1.07. 1,027,486 shares of the stock were exchanged, compared to its average volume of 2,329,085. The stock has a market cap of $150.32 million, a price-to-earnings ratio of -1.41 and a beta of 0.94. FREYR Battery, Inc. has a 12 month low of $0.91 and a 12 month high of $3.36. The stock has a 50-day simple moving average of $1.47 and a 200-day simple moving average of $1.72.

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.