Short Interest in FREYR Battery, Inc. (NYSE:FREY) Expands By 11.3%

FREYR Battery, Inc. (NYSE:FREY - Get Free Report) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 13,370,000 shares, an increase of 11.3% from the November 15th total of 12,010,000 shares. Approximately 11.0% of the company's shares are sold short. Based on an average daily trading volume, of 3,120,000 shares, the short-interest ratio is currently 4.3 days.

Insiders Place Their Bets

In other FREYR Battery news, Director Tore Ivar Slettemoen sold 184,621 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $1.67, for a total value of $308,317.07. Following the sale, the director now owns 6,616,105 shares in the company, valued at approximately $11,048,895.35. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FREYR Battery

A number of institutional investors have recently made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of FREYR Battery during the 2nd quarter valued at $676,000. Bank of New York Mellon Corp bought a new position in FREYR Battery in the second quarter valued at about $571,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in FREYR Battery by 45.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,026,774 shares of the company's stock worth $996,000 after purchasing an additional 320,217 shares during the last quarter. State Street Corp boosted its position in FREYR Battery by 24.4% in the third quarter. State Street Corp now owns 1,567,499 shares of the company's stock worth $1,521,000 after purchasing an additional 307,426 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of FREYR Battery during the 3rd quarter valued at about $156,000. Hedge funds and other institutional investors own 52.31% of the company's stock.

FREYR Battery Stock Performance

Shares of FREYR Battery stock traded up $0.05 during midday trading on Friday, hitting $1.71. The company had a trading volume of 2,367,595 shares, compared to its average volume of 2,062,874. The company has a 50 day moving average of $1.59 and a 200 day moving average of $1.53. The stock has a market capitalization of $240.24 million, a P/E ratio of -2.25 and a beta of 1.03. FREYR Battery has a 52-week low of $0.91 and a 52-week high of $2.85.

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

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.