Green Alpha Advisors LLC Sells 57,594 Shares of FREYR Battery, Inc. (NYSE:FREY)

Green Alpha Advisors LLC cut its position in shares of FREYR Battery, Inc. (NYSE:FREY) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,173 shares of the company’s stock after selling 57,594 shares during the period. Green Alpha Advisors LLC’s holdings in FREYR Battery were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of FREYR Battery during the second quarter valued at $26,000. DRW Securities LLC bought a new position in FREYR Battery during the 3rd quarter worth about $29,000. SG Americas Securities LLC increased its position in FREYR Battery by 93.3% during the 3rd quarter. SG Americas Securities LLC now owns 43,228 shares of the company’s stock valued at $42,000 after purchasing an additional 20,860 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of FREYR Battery by 182.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 55,575 shares of the company’s stock valued at $54,000 after purchasing an additional 35,928 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of FREYR Battery in the 2nd quarter worth approximately $56,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

FREYR Battery Trading Down 9.6 %

FREY opened at $2.35 on Monday. The firm has a market cap of $330.15 million, a price-to-earnings ratio of -3.09 and a beta of 0.97. FREYR Battery, Inc. has a 12 month low of $0.91 and a 12 month high of $3.36. The stock has a fifty day moving average price of $2.19 and a 200-day moving average price of $1.60.

FREYR Battery (NYSE:FREY) last announced 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 period last year, the company posted ($0.07) EPS.

Insider Buying and Selling

In other FREYR Battery news, CFO Joseph Evan Calio purchased 125,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $1.74 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief financial officer now owns 255,600 shares of the company’s stock, valued at approximately $444,744. The trade was a 95.71 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tore Ivar Slettemoen sold 184,621 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $1.67, for a total transaction of $308,317.07. Following the transaction, the director now owns 6,616,105 shares in the company, valued at approximately $11,048,895.35. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 804,292 shares of company stock worth $1,439,009 in the last 90 days. 20.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, BTIG Research raised shares of FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a report 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.