While FREYR Battery Inc. has underperformed by -4.24%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, FREY fell by -82.41%, with highs and lows ranging from $10.10 to $1.21, whereas the simple moving average fell by -65.85% in the last 200 days.
On November 14, 2023, Morgan Stanley Downgraded FREYR Battery Inc. (NYSE: FREY) to Equal-Weight. A report published by BTIG Research on November 10, 2023, Downgraded its rating to ‘Neutral’ for FREY. TD Cowen also Downgraded FREY shares as ‘Market Perform’, setting a target price of $7 on the company’s shares in a report dated October 25, 2023. Goldman July 18, 2023d the rating to Neutral on July 18, 2023, and set its price target from $14 to $10. Morgan Stanley June 29, 2023d its ‘Equal-Weight’ rating to ‘Overweight’ for FREY, as published in its report on June 29, 2023. BofA Securities’s report from February 10, 2023 suggests a price prediction of $13 for FREY shares, giving the stock a ‘Buy’ rating. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of FREYR Battery Inc. (FREY)
In order to gain a clear picture of FREYR Battery Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -10.65% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.34, 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.
An average volume of 2.25M can be a very valuable indicator of volatility for FREY stock. On a monthly basis, the volatility of the stock is set at 9.57%, whereas on a weekly basis, it is put at 10.23%, with a loss of -5.95% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.50, showing growth from the present price of $1.58, 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 Inc. Shares?
In addition to the fundamentals, you should also consider 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 12.70%. 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 36.21% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
FREY shares are owned by institutional investors to the tune of 36.21% at present.
