FREYR Battery (NYSE: FREY) stock jumped 6.88% on Monday to $1.71 against a previous-day closing price of $1.60. With 3.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.77 million shares. During the session, the Electrical Equipment & Parts company that operates in wider Industrials sector, reached to the highest price of $1.7500 whereas the lowest price it dropped to was $1.5700. The 52-week range on FREY shows that it touched its highest point at $15.30 and its lowest point at $1.40 during that stretch. It currently has a 1-year price target of $8.99. Beta for the stock currently stands at 0.68.
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 -2.29%, but this was down by -51.42% over a month. Three-month performance dropped to -73.85% while six-month performance fell -77.35%. The stock lost -88.28% in the past year, while it has lost -80.30% so far this year. A look at the trailing 12-month EPS for FREY yields -0.14 with Next year EPS estimates of -1.31. For the next quarter, that number is -0.26. This implies an EPS growth rate of -1.85% for this year and -34.72% for next year.
Float and Shares Shorts:
At present, 139.71 million FREY shares are outstanding with a float of 117.63 million shares on hand for trading. On Oct 30, 2023, short shares totaled 13.5 million, which was 9.66% higher than short shares on Sep 28, 2023. In addition to Mr. Tom-Einar Rysst Jensen as the firm’s Co-Founder & Executive 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.
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 $1.90, the average target price over the next 12 months is $8.99. Based on these targets, FREY could surge 1069.59% to reach the target high and rise by 11.11% to reach the target low. Reaching the average price target will result in a growth of 425.73% from current levels.