FREYR Battery (NYSE:FREY) Trading Down 4.1% - Here's Why

FREYR Battery, Inc. (NYSE:FREY - Get Free Report) shares were down 4.1% on Friday . The company traded as low as $1.38 and last traded at $1.42. Approximately 1,108,532 shares traded hands during trading, a decline of 55% from the average daily volume of 2,487,329 shares. The stock had previously closed at $1.48.Get FREYR Battery alerts:FREYR Battery Stock Down 4.1%The Hottest Markets to Watch After the Fed’s 25 Bps Rate CutThe firm has a market capitalization of $199.50 million, a PE ratio of -1.87 and a beta of 0.94. The business has a 50-day moving average price of $1.29 and a 200-day moving average price of $1.58. Institutional Inflows and OutflowsSeveral institutional investors have recently modified their holdings of FREY. Southpoint Capital Advisors LP acquired a new stake in FREYR Battery during the fourth quarter worth about $14,922,000. Long Focus Capital Management LLC raised its position in shares of FREYR Battery by 27.0% during the 4th quarter. Long Focus Capital Management LLC now owns 5,650,000 shares of the company's stock valued at $14,577,000 after buying an additional 1,200,950 shares during the period. Invesco Ltd. lifted its holdings in FREYR Battery by 48.5% in the fourth quarter. Invesco Ltd. now owns 2,144,187 shares of the company's stock valued at $5,532,000 after acquiring an additional 700,469 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in FREYR Battery by 2,538.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,458,467 shares of the company's stock valued at $3,763,000 after acquiring an additional 1,403,183 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in FREYR Battery by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,363,260 shares of the company's stock worth $3,517,000 after acquiring an additional 21,232 shares during the period. Hedge funds and other institutional investors own 52.31% of the company's stock. About FREYR Battery (Get Free Report)MarketBeat Week in Review – 8/19 - 8/23FREYR 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.Recommended StoriesFive stocks we like better than FREYR BatteryWhat is a Special Dividend?The Meteoric Rise of Rocket Lab: A Space Stock to WatchUtilities Stocks Explained – How and Why to Invest in Utilities3 Hot Tech Stocks Showing Bullish Price Action Right NowWhat is a Death Cross in Stocks?Meta and Autonomous Advertising: The Stock's Next Big Tailwind?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Microvast vs. FREYR: Which Battery Stock Holds the Power?Should You Invest $1,000 in FREYR Battery Right Now?Before you consider FREYR Battery, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FREYR Battery wasn't on the list.While FREYR Battery currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here