FREYR Battery Inc (NYSE:FREY) price closed lower on Tuesday, November 12, and dropping -7.76% below its previous close.
A look at the daily price movement shows that the last close reads $2.32, with intraday deals fluctuated between $2.0601 and $2.4. The company’s 5Y monthly beta was ticking 0.72. Taking into account the 52-week price action we note that the stock hit a 52-week high of $2.85 and 52-week low of $0.91. The stock added 111.88% on its value in the past month.
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FREYR Battery Inc, which has a market valuation of $300.65 million, is expected to release its quarterly earnings report in December.
On average, analysts have forecast the company’s revenue for the quarter will hit 450k, with the likely lows of 400k and highs of 500k. Staying with the analyst view, there is a consensus estimate of 660k for the company’s annual revenue in current year.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give FREY a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 3 analysts have assigned FREY a recommendation rating as follows: 0 rate it as a Hold; 3 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the FREYR Battery Inc (FREY) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that FREY’s price is at present 64.55% off the SMA20 and 88.40% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 70.82, with weekly volatility standing at 30.42%. The indicator jumps to 12.09% when calculated based on the past 30 days. FREYR Battery Inc (NYSE:FREY)’s beta value is holding at 1.06, while the average true range (ATR) indicator is currently reading 0.21. Considering analysts have assigned the stock a price target range of $13-$25 as the low and high respectively, we find the trailing 12-month average consensus price target to be $19. Based on this estimate, we see that current price is roughly -507.48% off the estimated low and -1068.22% off the forecast high. Investors will no doubt be excited to see the share price fall to $19, which is the median consensus price, and at that level FREY would be -787.85% from current price.
An analysis of the FREYR Battery Inc (NYSE:FREY) stock in terms of its daily trading volume indicates that the 3-month average is 2.46 million. However, this figure increases on the past 10-day timeline to an average of 8.88 million.
Current records show that the company has 139.71M in outstanding shares. The insiders’ percentage holdings are 13.51% of outstanding shares while the percentage share held by institutions stands at 41.27%. The stats also highlight that short interest as of 2024-10-15, stood at 10.47 million shares, which puts the short ratio at the time at 8.09. From this we can glean that short interest is 820.00 of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 13.0 million. But the 14.44% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
