A share of FREYR Battery (NYSE:FREY) closed at $9.90 per share on Tuesday, down from $10.40 day before. While FREYR Battery has underperformed by -4.81%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, FREY rose by 8.20%, with highs and lows ranging from $16.94 to $6.42, whereas the simple moving average fell by -7.75% in the last 200 days.
On October 31, 2022, Cowen started tracking FREYR Battery (NYSE: FREY) recommending Outperform. A report published by Goldman on August 25, 2022, Upgraded its rating to ‘Buy’ for FREY. Goldman also rated FREY shares as ‘Neutral’, setting a target price of $8 on the company’s shares in an initiating report dated June 21, 2022. Piper Sandler Initiated an Neutral rating on December 17, 2021, and assigned a price target of $11. JP Morgan initiated its ‘Neutral’ rating for FREY, as published in its report on November 18, 2021.
Analysis of FREYR Battery (FREY)
FREYR Battery’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -30.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and FREY is registering an average volume of 2.64M. On a monthly basis, the volatility of the stock is set at 5.58%, whereas on a weekly basis, it is put at 5.26%, with a loss of -6.60% over the past seven days. Furthermore, long-term investors anticipate a median target price of $21.00, showing growth from the present price of $9.90, which can serve as yet another indication of whether FREY is worth investing in or should be passed over.
How Do You Analyze FREYR Battery Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 18.68%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 43.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in FREY shares?
The recent increase in stakes in FREY appears to be a result of several institutional investors and hedge funds increasing their positions. Sylebra Capital Ltd.’s position in FREY has increased by 2.51% in the first quarter. The company now owns 12,803,449 shares of the stock, with a value of $111.13 million, following the purchase of 313,158 additional shares during the last quarter. During the last quarter, the company dropped down 0 additional shares for a total stake of worth $99.82 million, bringing number of shares owned by the company to 11,500,000.
At the end of the first quarter, Candlestick Capital Management LP decreased its FREY holdings by -37.35% and now holds 2.4 million FREY shares valued at $20.83 million with the lessened -1.43 million shares during the period. FREY shares are owned by institutional investors to the tune of 43.20% at present.