Stock Traders Purchase Large Volume of FREYR Battery Call Options (NYSE:FREY)

FREYR Battery, Inc. (NYSE:FREY) saw some unusual options trading activity on Monday. Investors purchased 7,201 call options on the stock. This represents an increase of 921% compared to the typical volume of 705 call options.

Wall Street Analysts Forecast Growth

Separately, BTIG Research upgraded FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Friday, December 20th.

FREYR Battery Stock Performance

FREY opened at $2.98 on Wednesday. The stock has a market capitalization of $418.66 million, a price-to-earnings ratio of -3.92 and a beta of 1.03. The company has a fifty day moving average of $1.71 and a 200 day moving average of $1.50. FREYR Battery has a fifty-two week low of $0.91 and a fifty-two week high of $3.00.

FREYR Battery (NYSE:FREY) last announced its quarterly 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 prior year, the company earned ($0.07) earnings per share.

Insider Activity at FREYR Battery

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in FREYR Battery during the second quarter valued at $26,000. DRW Securities LLC bought a new position in shares of FREYR Battery in the 3rd quarter valued at about $29,000. SG Americas Securities LLC bought a new position in shares of FREYR Battery in the 2nd quarter valued at about $38,000. BNP Paribas Financial Markets grew its position in FREYR Battery by 182.9% in the third quarter. BNP Paribas Financial Markets now owns 55,575 shares of the company’s stock worth $54,000 after acquiring an additional 35,928 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in FREYR Battery during the second quarter worth approximately $56,000. 52.31% of the stock is currently owned by institutional investors.

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.