State Street Corp Has $1.52 Million Stock Holdings in FREYR Battery, Inc. (NYSE:FREY)

State Street Corp increased its position in shares of FREYR Battery, Inc. (NYSE:FREY - Free Report) by 24.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,567,499 shares of the company's stock after purchasing an additional 307,426 shares during the quarter. State Street Corp owned 1.12% of FREYR Battery worth $1,521,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in shares of FREYR Battery by 0.7% in the 3rd quarter. Jennison Associates LLC now owns 1,327,877 shares of the company's stock worth $1,288,000 after buying an additional 9,667 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in FREYR Battery during the second quarter worth about $26,000. SG Americas Securities LLC raised its stake in FREYR Battery by 93.3% during the third quarter. SG Americas Securities LLC now owns 43,228 shares of the company's stock worth $42,000 after acquiring an additional 20,860 shares during the period. DRW Securities LLC bought a new position in FREYR Battery in the third quarter worth about $29,000. Finally, WINTON GROUP Ltd acquired a new position in FREYR Battery in the second quarter valued at approximately $56,000. Institutional investors and hedge funds own 52.31% of the company's stock.

Insider Activity

In other FREYR Battery news, CFO Joseph Evan Calio bought 50,000 shares of FREYR Battery stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $1.57 per share, for a total transaction of $78,500.00. Following the completion of the acquisition, the chief financial officer now owns 680,462 shares of the company's stock, valued at approximately $1,068,325.34. This represents a 7.93 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tore Ivar Slettemoen sold 184,621 shares of FREYR Battery stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $1.67, for a total value of $308,317.07. Following the completion of the transaction, the director now owns 6,616,105 shares in the company, valued at $11,048,895.35. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 804,292 shares of company stock worth $1,439,009 over the last 90 days. 20.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

FREYR Battery Trading Up 5.8 %

NYSE:FREY traded up $0.15 during mid-day trading on Thursday, hitting $2.73. The stock had a trading volume of 4,193,231 shares, compared to its average volume of 2,191,875. The company has a 50 day simple moving average of $1.96 and a 200-day simple moving average of $1.55. The stock has a market capitalization of $383.54 million, a price-to-earnings ratio of -3.59 and a beta of 1.03. FREYR Battery, Inc. has a 52 week low of $0.91 and a 52 week high of $3.36.

FREYR Battery (NYSE:FREY - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.02). During the same period in the prior year, the business posted ($0.07) earnings per share.

FREYR Battery Company 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.