Brokerages Set FREYR Battery SA (NYSE:FREY) Target Price at $19.33

FREYR Battery SA (NYSE:FREY) has received an average recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.33.

FREY has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of FREYR Battery in a research note on Tuesday, August 3rd. They set an “overweight” rating and a $18.00 price target on the stock. Pareto Securities initiated coverage on shares of FREYR Battery in a research note on Monday, August 23rd. They set a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of FREYR Battery in a research note on Thursday, November 18th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of FREYR Battery from a “hold” rating to a “sell” rating in a research note on Friday, November 19th. Finally, BTIG Research assumed coverage on shares of FREYR Battery in a research note on Tuesday, August 3rd. They issued a “buy” rating and a $20.00 target price on the stock.

Several large investors have recently modified their holdings of the company. Suvretta Capital Management LLC bought a new position in shares of FREYR Battery in the third quarter valued at about $20,665,000. Sylebra Capital Ltd bought a new position in shares of FREYR Battery in the third quarter valued at about $122,578,000. Cetera Investment Advisers bought a new position in shares of FREYR Battery in the third quarter valued at about $272,000. Toroso Investments LLC bought a new position in shares of FREYR Battery in the third quarter valued at about $1,188,000. Finally, Candlestick Capital Management LP bought a new position in shares of FREYR Battery in the third quarter valued at about $34,545,000. Institutional investors own 68.21% of the company’s stock.

Shares of FREYR Battery stock traded down $0.13 during midday trading on Thursday, hitting $11.17. The company had a trading volume of 1,403,272 shares, compared to its average volume of 1,037,964. The company’s 50 day moving average price is $10.52. The company has a market cap of $1.30 billion, a PE ratio of -3.29 and a beta of -0.11. FREYR Battery has a 1-year low of $7.71 and a 1-year high of $14.37.

FREYR Battery (NYSE:FREY) last posted its quarterly earnings results on Sunday, November 14th. The company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.33). During the same period in the previous year, the business posted ($0.04) EPS. As a group, equities research analysts forecast that FREYR Battery will post -0.75 EPS for the current year.

FREYR Battery Company Profile

FREYR offers a clean Nordic solution to the rapidly growing global demand for high-density and cost-competitive battery cells for stationary energy storage (ESS), electric mobility, and marine applications.

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Analyst Recommendations for FREYR Battery (NYSE:FREY)

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