Rhumbline Advisers Buys 31,421 Shares of FREYR Battery, Inc. (NYSE:FREY)

Rhumbline Advisers raised its position in FREYR Battery, Inc. (NYSE:FREY) by 28.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 142,382 shares of the company’s stock after buying an additional 31,421 shares during the quarter. Rhumbline Advisers’ holdings in FREYR Battery were worth $367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in FREYR Battery by 24.4% in the third 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of FREYR Battery by 45.3% during 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 acquiring an additional 320,217 shares during the last quarter. Barclays PLC lifted its stake 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 purchasing an additional 107,881 shares during the period. BNP Paribas Financial Markets lifted its stake 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 during the period. Finally, XTX Topco Ltd bought a new position in shares of FREYR Battery in the 3rd quarter worth $95,000. 52.31% of the stock is owned by institutional investors and hedge funds.

FREYR Battery Price Performance

Shares of NYSE:FREY opened at $1.40 on Monday. The firm’s 50 day simple moving average is $2.05 and its 200 day simple moving average is $1.69. FREYR Battery, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $3.36. The company has a market capitalization of $196.69 million, a price-to-earnings ratio of -1.84 and a beta of 0.94.

Insider Buying and Selling at FREYR Battery

In other FREYR Battery news, Director Tore Ivar Slettemoen sold 228,600 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $1.73, for a total value of $395,478.00. Following the completion of the sale, the director now directly owns 7,351,846 shares in the company, valued at $12,718,693.58. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph Evan Calio purchased 50,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $1.57 per share, for a total transaction of $78,500.00. Following the transaction, the chief financial officer now owns 680,462 shares of the company’s stock, valued at $1,068,325.34. This trade represents a 7.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 804,292 shares of company stock valued at $1,439,009. Corporate insiders own 20.40% of the company’s stock.

Analyst Ratings Changes

Separately, BTIG Research upgraded FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company 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.