50,000 Shares in FREYR Battery, Inc. (NYSE:FREY) Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC purchased a new stake in FREYR Battery, Inc. (NYSE:FREY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $129,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in shares of FREYR Battery by 24.4% in the 3rd quarter. State Street Corp now owns 1,567,499 shares of the company’s stock valued at $1,521,000 after buying an additional 307,426 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of FREYR Battery by 45.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,026,774 shares of the company’s stock valued at $996,000 after buying an additional 320,217 shares during the last quarter. Barclays PLC grew its position in shares of FREYR Battery by 274.9% in the 3rd quarter. Barclays PLC now owns 147,124 shares of the company’s stock valued at $142,000 after buying an additional 107,881 shares during the last quarter. BNP Paribas Financial Markets grew its position 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 buying an additional 35,928 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of FREYR Battery in the 3rd quarter valued at about $95,000. Institutional investors own 52.31% of the company’s stock.

Insider Activity at FREYR Battery

In other news, CFO Joseph Evan Calio purchased 125,000 shares of the company’s stock in a transaction that occurred 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 purchase, the chief financial officer now owns 255,600 shares in the company, valued at $444,744. This represents a 95.71 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tore Ivar Slettemoen sold 228,600 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $1.73, for a total value of $395,478.00. Following the transaction, the director now directly owns 7,351,846 shares in the company, valued at approximately $12,718,693.58. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 804,292 shares of company stock worth $1,439,009 in the last 90 days. Corporate insiders own 20.40% of the company’s stock.

FREYR Battery Price Performance

Shares of FREYR Battery stock opened at $1.91 on Friday. FREYR Battery, Inc. has a one year low of $0.91 and a one year high of $3.36. The stock’s 50-day moving average is $2.18 and its 200 day moving average is $1.66. The firm has a market cap of $267.63 million, a price-to-earnings ratio of -2.51 and a beta of 0.94.

Wall Street Analyst Weigh In

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

FREYR Battery Company Profile

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.