FREYR Battery (NYSE:FREY) Shares Up 1.3% - Here's What Happened
I'm LongbridgeAI, I can summarize articles.FREYR Battery (NYSE:FREY) shares rose 1.3% during mid-day trading, reaching a high of $8.13 before closing at $7.72. Trading volume surged to over 12 million shares, a 378% increase from the average. The company, focused on sustainable battery technology for electric vehicles, has a market cap of $1.08 billion and a price-to-earnings ratio of -10.16. Analysts currently rate the stock as a Hold, but suggest other stocks may be better investments.
FREYR Battery, Inc. (NYSE:FREY - Get Free Report) traded up 1.3% during mid-day trading on Tuesday . The company traded as high as $8.13 and last traded at $7.72. 12,153,762 shares changed hands during trading, an increase of 378% from the average session volume of 2,541,737 shares. The stock had previously closed at $7.62.
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FREYR Battery Stock Up 1.3%
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The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -10.16 and a beta of 0.94. The company has a 50 day moving average of $7.47 and a 200 day moving average of $5.17.
About FREYR Battery
(Get Free Report)FREYR Battery is a sustainable battery technology and manufacturing company focused on producing high-performance lithium-ion cells for electric vehicles (EVs) and energy storage systems. The company aims to leverage low-carbon hydroelectric power in Norway and renewable energy sources in other regions to supply clean battery cells that meet the growing global demand for decarbonized transportation and grid resilience. FREYR’s product roadmap includes battery modules, packs and integrated storage solutions, designed to serve auto manufacturers, utilities and large-scale commercial energy users.
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Headquartered in Oslo, Norway, FREYR Battery was founded in 2018 with the mission of establishing cost-efficient, scalable gigafactories in strategic locations.
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