Stock Traders Buy High Volume of FREYR Battery Call Options (NYSE:FREY)

FREYR Battery, Inc. (NYSE:FREY) was the target of some unusual options trading activity on Monday. Stock investors bought 7,201 call options on the stock. This represents an increase of approximately 921% compared to the typical volume of 705 call options.

Analysts Set New Price Targets

Separately, BTIG Research raised shares of FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Friday.

Insider Activity at FREYR Battery

In other FREYR Battery news, Director Tore Ivar Slettemoen sold 228,600 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $1.73, for a total value of $395,478.00. Following the transaction, the director now owns 7,351,846 shares in the company, valued at approximately $12,718,693.58. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph Evan Calio bought 125,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $1.74 per share, with a total value of $217,500.00. Following the purchase, the chief financial officer now directly owns 255,600 shares in the company, valued at approximately $444,744. This trade represents a 95.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 804,292 shares of company stock worth $1,439,009. 20.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FREYR Battery

Large investors have recently bought and sold shares of the business. Barclays PLC lifted its position in FREYR Battery by 274.9% during the 3rd quarter. Barclays PLC now owns 147,124 shares of the company’s stock worth $142,000 after buying an additional 107,881 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of FREYR Battery in the 3rd quarter valued at $95,000. State Street Corp increased its position in shares of FREYR Battery by 24.4% in the 3rd quarter. State Street Corp now owns 1,567,499 shares of the company’s stock valued at $1,521,000 after buying an additional 307,426 shares in the last quarter. Quadrature Capital Ltd bought a new position in FREYR Battery during the third quarter worth about $103,000. Finally, Erste Asset Management GmbH acquired a new position in FREYR Battery in the third quarter valued at about $156,000. 52.31% of the stock is currently owned by institutional investors.

FREYR Battery Stock Performance

Shares of NYSE:FREY traded up $0.44 on Monday, hitting $2.60. 4,564,600 shares of the company were exchanged, compared to its average volume of 2,109,231. The company’s 50 day moving average price is $1.68 and its two-hundred day moving average price is $1.50. FREYR Battery has a one year low of $0.91 and a one year high of $2.85. The firm has a market capitalization of $365.27 million, a price-to-earnings ratio of -3.42 and a beta of 1.03.

FREYR Battery (NYSE:FREY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). During the same quarter last year, the company posted ($0.07) earnings per share.

About FREYR Battery

FREYR Battery, Inc provides battery solutions in the United States, Norway, and internationally. The company develops battery cell manufacturing facilities. It serves its products to energy storage systems and commercial mobility, including marine applications and commercial vehicles markets. The company is headquartered in Luxembourg.