FREYR Battery (NYSE: FREY) stock fell -1.38% on Friday to $5.71 against a previous-day closing price of $5.79. With 2.41 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.17 million shares. During the session, the Electrical Equipment & Parts company that operates in wider Industrials sector, reached to the highest price of $5.79 whereas the lowest price it dropped to was $5.51. The 52-week range on FREY shows that it touched its highest point at $16.94 and its lowest point at $5.66 during that stretch. It currently has a 1-year price target of $13.17. Beta for the stock currently stands at 0.81.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FREY was down-trending over the past week, with a drop of -7.75%, but this was down by -17.37% over a month. Three-month performance dropped to -25.65% while six-month performance fell -21.35%. The stock lost -57.92% in the past year, while it has lost -34.22% so far this year. A look at the trailing 12-month EPS for FREY yields -0.87 with Next year EPS estimates of -2.11. For the next quarter, that number is -0.32. This implies an EPS growth rate of 32.70% for this year and -63.60% for next year.
Float and Shares Shorts:
At present, 139.71 million FREY shares are outstanding with a float of 116.28 million shares on hand for trading. On Aug 30, 2023, short shares totaled 14.32 million, which was 10.25% higher than short shares on Jul 30, 2023. In addition to Mr. Tom-Einar Rysst Jensen as the firm’s Co-Founder & Exec. Chairman, Mr. Balaz Peter Matrai serves as its Co-Founder & Director.
Through their ownership of 46.58% of FREY’s outstanding shares, institutional investors have minority control over the company.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, FREY reported revenue of $0.00 and operating income of -$31.23M. The EBITDA in the recently reported quarter was -$30.40M and diluted EPS was $0.04.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FREY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FREY analysts setting a high price target of $20.00 and a low target of $10.00, the average target price over the next 12 months is $14.00. Based on these targets, FREY could surge 250.26% to reach the target high and rise by 75.13% to reach the target low. Reaching the average price target will result in a growth of 145.18% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.