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

FREYR Battery, Inc. (NYSE:FREY) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 11,950,000 shares, a decline of 6.9% from the July 15th total of 12,840,000 shares. Approximately 9.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,980,000 shares, the days-to-cover ratio is presently 6.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC boosted its position in shares of FREYR Battery by 0.7% during the 1st quarter. Jennison Associates LLC now owns 1,301,720 shares of the company’s stock worth $2,187,000 after acquiring an additional 8,583 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FREYR Battery during the 1st quarter worth about $2,012,000. Franklin Resources Inc. boosted its position in shares of FREYR Battery by 10.0% during the 4th quarter. Franklin Resources Inc. now owns 915,700 shares of the company’s stock worth $1,712,000 after acquiring an additional 83,400 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of FREYR Battery during the 2nd quarter worth about $676,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of FREYR Battery during the 2nd quarter worth about $571,000. 52.31% of the stock is owned by institutional investors and hedge funds.

FREYR Battery Trading Down 0.8 %

FREY stock opened at $1.22 on Monday. FREYR Battery has a 12-month low of $1.10 and a 12-month high of $6.89. The company has a market capitalization of $170.44 million, a PE ratio of -1.97 and a beta of 0.76. The business’s fifty day moving average price is $1.63 and its 200 day moving average price is $1.74.

FREYR Battery (NYSE:FREY) last released its earnings results on Friday, August 9th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). During the same period in the previous year, the business earned ($0.18) 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.