FREYR Battery Inc. (NYSE: FREY)’s stock price has dropped by -5.03 in relation to previous closing price of 1.79. Nevertheless, the company has seen a loss of -8.11% in its stock price over the last five trading days. investorplace.com reported 2024-07-23 that Over the long term, clean energy should continue to be a growing sector. The world needs more electricity, and that will especially be true given the increasing power demand in sectors such as electric vehicles (EVs) and artificial intelligence.
Is It Worth Investing in FREYR Battery Inc. (NYSE: FREY) Right Now?
Company’s 36-month beta value is 0.76.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for FREY is 120.72M, and currently, short sellers hold a 6.01% ratio of that floaft. The average trading volume of FREY on July 25, 2024 was 1.92M shares.
FREY’s Market Performance
FREY stock saw a decrease of -8.11% in the past week, with a monthly decline of -0.58% and a quarterly a decrease of 6.25%. The volatility ratio for the week is 7.87%, and the volatility levels for the last 30 days are 7.63% for FREYR Battery Inc. (FREY).. The simple moving average for the past 20 days is -0.03% for FREY’s stock, with a -15.03% 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 -11.33% 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 -80.07% of loss for the given period.
Volatility was left at 7.63%, however, over the last 30 days, the volatility rate increased by 7.87%, as shares surge +7.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.09% lower at present.
During the last 5 trading sessions, FREY fell by -8.11%, which changed the moving average for the period of 200-days by -61.71% in comparison to the 20-day moving average, which settled at $1.7065. In addition, FREYR Battery Inc. saw -9.09% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for FREY
The total capital return value is set at -0.22. Equity return is now at value -13.99, with -11.89 for asset returns.
Based on FREYR Battery Inc. (FREY), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at -4.48.
Currently, EBITDA for the company is -131.9 million with net debt to EBITDA at 1.48. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.70.
Conclusion
In a nutshell, FREYR Battery Inc. (FREY) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
