Virtu Financial LLC Lowers Stock Holdings in FREYR Battery, Inc. (NYSE:FREY)

Virtu Financial LLC cut its holdings in shares of FREYR Battery, Inc. (NYSE:FREY) by 50.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,698 shares of the company’s stock after selling 46,909 shares during the quarter. Virtu Financial LLC’s holdings in FREYR Battery were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FREY. State Street Corp increased its stake in shares of FREYR Battery by 24.4% during the 3rd quarter. State Street Corp now owns 1,567,499 shares of the company’s stock valued at $1,521,000 after acquiring an additional 307,426 shares during the last quarter. Jennison Associates LLC increased its position in FREYR Battery by 0.7% during the third quarter. Jennison Associates LLC now owns 1,327,877 shares of the company’s stock worth $1,288,000 after purchasing an additional 9,667 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in FREYR Battery by 45.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,026,774 shares of the company’s stock worth $996,000 after purchasing an additional 320,217 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of FREYR Battery in the 2nd quarter valued at $676,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of FREYR Battery in the 2nd quarter valued at $571,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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.

Insider Transactions at FREYR Battery

In related news, Director Tore Ivar Slettemoen sold 391,071 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $1.88, for a total transaction of $735,213.48. Following the sale, the director now directly owns 5,080,446 shares in the company, valued at approximately $9,551,238.48. This trade represents a 7.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph Evan Calio purchased 50,000 shares of FREYR Battery stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost of $1.57 per share, for a total transaction of $78,500.00. Following the completion of the transaction, the chief financial officer now directly owns 680,462 shares in the company, valued at $1,068,325.34. This represents a 7.93 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 804,292 shares of company stock valued at $1,439,009 over the last 90 days. Corporate insiders own 20.40% of the company’s stock.

FREYR Battery Price Performance

FREYR Battery stock opened at $2.16 on Friday. The company has a market cap of $303.46 million, a price-to-earnings ratio of -2.84 and a beta of 1.03. FREYR Battery, Inc. has a 12 month low of $0.91 and a 12 month high of $2.85. The stock’s 50-day moving average is $1.68 and its 200-day moving average is $1.51.

FREYR Battery (NYSE:FREY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). During the same period in the previous year, the business earned ($0.07) EPS.

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.