FREYR Battery, Inc. (NYSE:FREY) Short Interest Up 10.1% in August

FREYR Battery, Inc. (NYSE:FREY) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 13,160,000 shares, a growth of 10.1% from the July 31st total of 11,950,000 shares. Currently, 10.8% of the shares of the stock are sold short. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 6.7 days.

FREYR Battery Stock Performance

Shares of NYSE FREY traded down $0.09 during mid-day trading on Tuesday, hitting $1.14. 1,717,562 shares of the stock were exchanged, compared to its average volume of 1,677,137. FREYR Battery has a twelve month low of $1.10 and a twelve month high of $6.57. The stock’s fifty day simple moving average is $1.52 and its two-hundred day simple moving average is $1.72. The company has a market cap of $158.57 million, a P/E ratio of -1.82 and a beta of 0.76.

FREYR Battery (NYSE:FREY) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). During the same quarter in the previous year, the business earned ($0.18) earnings per share.

Institutional Investors Weigh In On FREYR Battery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FREY. Susquehanna Fundamental Investments LLC acquired a new stake in shares of FREYR Battery in the 2nd quarter valued at $218,000. The Manufacturers Life Insurance Company bought a new position in FREYR Battery in the second quarter valued at about $75,000. Renaissance Technologies LLC acquired a new stake in FREYR Battery in the second quarter worth about $170,000. WINTON GROUP Ltd acquired a new position in FREYR Battery during the 2nd quarter valued at about $56,000. Finally, American Century Companies Inc. bought a new position in shares of FREYR Battery in the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

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.