FREYR Battery, Inc. (NYSE:FREY) Shares Sold by Virtu Financial LLC

Virtu Financial LLC decreased its holdings in FREYR Battery, Inc. (NYSE:FREY) by 50.1% during the 3rd quarter, HoldingsChannel reports. The fund 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 SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in FREYR Battery during the 2nd quarter worth approximately $26,000. SG Americas Securities LLC bought a new stake in shares of FREYR Battery in the second quarter worth $38,000. DRW Securities LLC acquired a new stake in FREYR Battery in the third quarter valued at $29,000. WINTON GROUP Ltd bought a new position in FREYR Battery during the 2nd quarter valued at $56,000. Finally, American Century Companies Inc. acquired a new position in FREYR Battery during the 2nd quarter worth $61,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Insider Buying and Selling at FREYR Battery

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

Analyst Ratings Changes

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

FREYR Battery Stock Up 19.3 %

Shares of NYSE FREY opened at $2.16 on Friday. The stock’s 50 day moving average price is $1.68 and its two-hundred day moving average price is $1.51. FREYR Battery, Inc. has a 52-week low of $0.91 and a 52-week high of $2.85. The stock has a market capitalization of $303.46 million, a P/E ratio of -2.84 and a beta of 1.03.

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

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.