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.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


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.

Institutional Ownership:

Through their ownership of 46.58% of FREY’s outstanding shares, institutional investors have minority control over the company.

Analysts Ratings:

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.

Leave a Reply

Your email address will not be published. Required fields are marked *