Cibc World Markets Corp Purchases Shares of 10,491 FREYR Battery, Inc. (NYSE:FREY)

Cibc World Markets Corp acquired a new stake in FREYR Battery, Inc. (NYSE:FREY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,491 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FREY. Truist Financial Corp acquired a new position in FREYR Battery in the fourth quarter worth about $26,000. SBI Securities Co. Ltd. bought a new position in shares of FREYR Battery during the 4th quarter worth approximately $28,000. Raymond James Financial Inc. bought a new position in shares of FREYR Battery during the 4th quarter worth approximately $36,000. FSM Wealth Advisors LLC acquired a new stake in FREYR Battery in the 4th quarter valued at $51,000. Finally, BNP Paribas Financial Markets grew its position in FREYR Battery by 182.9% in 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. 52.31% of the stock is owned by institutional investors.

FREYR Battery Stock Up 1.4 %

Shares of FREY stock opened at $1.42 on Friday. The company has a market capitalization of $199.50 million, a P/E ratio of -1.87 and a beta of 0.94. FREYR Battery, Inc. has a 12-month low of $0.91 and a 12-month high of $3.36. The firm has a 50-day moving average price of $1.73 and a 200 day moving average price of $1.72.

Analyst Upgrades and Downgrades

Separately, BTIG Research raised 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.

FREYR Battery 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.