FREYR Battery, Inc. (NYSE:FREY) Stake Decreased by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of FREYR Battery, Inc. (NYSE:FREY) by 0.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,320,982 shares of the company’s stock after selling 6,895 shares during the period. Jennison Associates LLC’s holdings in FREYR Battery were worth $3,408,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FSM Wealth Advisors LLC acquired a new position in shares of FREYR Battery during the fourth quarter valued at approximately $51,000. DRW Securities LLC acquired a new position in shares of FREYR Battery during the third quarter valued at approximately $29,000. SG Americas Securities LLC increased its stake in shares of FREYR Battery by 93.3% during the third quarter. SG Americas Securities LLC now owns 43,228 shares of the company’s stock valued at $42,000 after acquiring an additional 20,860 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of FREYR Battery during the second quarter valued at approximately $75,000. Finally, BNP Paribas Financial Markets increased its stake in shares of FREYR Battery by 182.9% during the third quarter. BNP Paribas Financial Markets now owns 55,575 shares of the company’s stock valued at $54,000 after acquiring an additional 35,928 shares during the period. Institutional investors and hedge funds own 52.31% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Joseph Evan Calio acquired 125,000 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $1.74 per share, for a total transaction of $217,500.00. Following the transaction, the chief financial officer now owns 255,600 shares in the company, valued at approximately $444,744. This trade represents a 95.71 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tore Ivar Slettemoen sold 391,071 shares of FREYR Battery stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $1.88, for a total transaction of $735,213.48. Following the transaction, the director now owns 5,080,446 shares in the company, valued at approximately $9,551,238.48. The trade was a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 804,292 shares of company stock worth $1,439,009. 20.40% of the stock is owned by insiders.

FREYR Battery Stock Performance

FREYR Battery stock opened at $1.95 on Friday. The firm has a market cap of $273.25 million, a price-to-earnings ratio of -2.56 and a beta of 0.94. FREYR Battery, Inc. has a 1 year low of $0.91 and a 1 year high of $3.36. The firm’s 50 day moving average price is $2.20 and its two-hundred day moving average price is $1.66.

FREYR Battery (NYSE:FREY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). During the same period in the previous year, the business posted ($0.07) EPS.

Analyst Upgrades and Downgrades

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

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.