FREYR Battery, Inc. (NYSE:FREY) Sees Large Increase in Short Interest

FREYR Battery, Inc. (NYSE:FREY) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 11,770,000 shares, a growth of 12.4% from the October 15th total of 10,470,000 shares. Currently, 9.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,460,000 shares, the short-interest ratio is currently 4.8 days.

Hedge Funds Weigh In On FREYR Battery

A number of institutional investors have recently modified their holdings of the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of FREYR Battery in the 2nd quarter worth $676,000. Bank of New York Mellon Corp purchased a new stake in FREYR Battery in the second quarter worth about $571,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in FREYR Battery by 45.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,026,774 shares of the company’s stock worth $996,000 after acquiring an additional 320,217 shares in the last quarter. State Street Corp increased its position in FREYR Battery by 24.4% during the 3rd quarter. State Street Corp now owns 1,567,499 shares of the company’s stock valued at $1,521,000 after purchasing an additional 307,426 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in FREYR Battery during the 3rd quarter valued at about $156,000. 52.31% of the stock is owned by hedge funds and other institutional investors.

FREYR Battery Stock Up 2.6 %

NYSE FREY traded up $0.05 during trading hours on Monday, hitting $2.16. 1,778,238 shares of the company were exchanged, compared to its average volume of 2,014,995. FREYR Battery has a 52 week low of $0.91 and a 52 week high of $2.85. The stock has a 50-day moving average price of $1.22 and a 200 day moving average price of $1.53. The stock has a market cap of $302.76 million, a PE ratio of -2.84 and a beta of 0.72.

FREYR Battery (NYSE:FREY) last released its earnings results on Wednesday, November 6th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). During the same quarter in the previous year, the company earned ($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.