Skandinaviska Enskilda Banken AB publ Sells 76,938 Shares of FREYR Battery, Inc. (NYSE:FREY)

Skandinaviska Enskilda Banken AB publ cut its holdings in FREYR Battery, Inc. (NYSE:FREYFree Report) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,831 shares of the company’s stock after selling 76,938 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in FREYR Battery were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of FREYR Battery in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. purchased a new position in FREYR Battery in the 4th quarter worth approximately $28,000. Bank of New York Mellon Corp lifted its position in FREYR Battery by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 250,777 shares of the company’s stock valued at $647,000 after purchasing an additional 7,373 shares during the last quarter. Laidlaw Wealth Management LLC boosted its stake in shares of FREYR Battery by 217.9% during the fourth quarter. Laidlaw Wealth Management LLC now owns 44,500 shares of the company’s stock valued at $115,000 after purchasing an additional 30,500 shares during the period. Finally, Truist Financial Corp bought a new position in shares of FREYR Battery in the fourth quarter worth approximately $26,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Tore Ivar Slettemoen sold 391,071 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $1.88, for a total value of $735,213.48. Following the completion of the sale, the director now directly owns 5,080,446 shares of the company’s stock, valued at approximately $9,551,238.48. This trade represents a 7.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 20.40% of the company’s stock.

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 target for the company in a report on Friday, December 20th.

Read Our Latest Analysis on FREY

FREYR Battery Price Performance

NYSE FREY opened at $1.52 on Tuesday. FREYR Battery, Inc. has a 1 year low of $0.91 and a 1 year high of $3.36. The stock has a market capitalization of $213.54 million, a PE ratio of -2.00 and a beta of 0.94. The business’s 50-day moving average is $1.89 and its 200 day moving average is $1.70.

FREYR Battery Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FREYR Battery (NYSE:FREY)

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