The stock price of FREYR Battery Inc. (NYSE: FREY) has surged by 13.69 when compared to previous closing price of 1.68, but the company has seen a 13.69% gain in its stock price over the last five trading sessions. Business Wire reported 2024-04-23 that NEW YORK, OSLO, Norway & NEWNAN, Ga.–(BUSINESS WIRE)–FREYR Battery (NYSE: FREY) (“FREYR”), a developer of next-generation battery cell production capacity, will publish a press release detailing first quarter 2024 results and conduct a conference call on May 8, 2024. The first quarter 2024 press release will be issued by 6:00 am U.S. Daylight Time (12:00 pm Central European Time). The conference call is scheduled to begin at 8:30 am Eastern Daylight Time (2:30 pm Central European Time). To ac.
Is It Worth Investing in FREYR Battery Inc. (NYSE: FREY) Right Now?
The 36-month beta value for FREY is also noteworthy at 0.70. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for FREY is 121.90M, and at present, short sellers hold a 6.84% of that float. The average trading volume of FREY on May 08, 2024 was 1.52M shares.
FREY’s Market Performance
The stock of FREYR Battery Inc. (FREY) has seen a 13.69% increase in the past week, with a -9.05% drop in the past month, and a 23.23% gain in the past quarter. The volatility ratio for the week is 6.74%, and the volatility levels for the past 30 days are at 7.49% for FREY. The simple moving average for the past 20 days is 10.60% for FREY’s stock, with a -40.28% simple moving average for the past 200 days.
Analysts’ Opinion of FREY
Many brokerage firms have already submitted their reports for FREY stocks, with Morgan Stanley repeating the rating for FREY by listing it as a “Equal-Weight.” The predicted price for FREY in the upcoming period, according to Morgan Stanley is $2 based on the research report published on November 14, 2023 of the previous year 2023.
TD Cowen gave a rating of “Market Perform” to FREY, setting the target price at $7 in the report published on October 25th of the previous year.
FREY Trading at 13.19% from the 50-Day Moving Average
After a stumble in the market that brought FREY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -81.09% of loss for the given period.
Volatility was left at 7.49%, however, over the last 30 days, the volatility rate increased by 6.74%, as shares sank -10.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.44% upper at present.
During the last 5 trading sessions, FREY rose by +7.44%, which changed the moving average for the period of 200-days by -77.91% in comparison to the 20-day moving average, which settled at $1.7168. In addition, FREYR Battery Inc. saw 2.14% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for FREY
The total capital return value is set at -0.2. Equity return is now at value -10.65, with -9.22 for asset returns.
Based on FREYR Battery Inc. (FREY), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -25.86. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is 6.23.
Currently, EBITDA for the company is -131.9 million with net debt to EBITDA at 1.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.34.
Conclusion
In summary, FREYR Battery Inc. (FREY) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
