The stock of FREYR Battery (NYSE:FREY) decreased by -$0.65 on Tuesday to finish at $7.27, down -8.21 percent. The last five days have seen an average of 2,655,700 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$1.41. The average number of shares traded over the last 20 days was 1,961,945, while the average volume over the last 50 days totaled 2,252,036.
FREY stock dropped -24.35% since last month. On 08/15/23, the company’s shares reached a one-month low of $7.25. The stock touched a high of $16.94 on 01/18/23, after rallying from a low of $6.20 in 52 weeks. The price of FREY stock has declined by -16.24% or -$1.41 this year, reaching a new high 9 times. Still, the stock price is down -57.08% from the 52-week high.
Financial Health
For the three months ended June 29, FREYR Battery’s quick ratio was 8.20, while its current ratio was 8.20, indicating its ability to pay off its debt.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FREY’s return on assets (ROA) during the last 12 months has been -14.20%. In the meantime, the return on equity (ROE) for the last 12 months was -17.10%.
Earnings Surprise
According to FREYR Battery’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at -$2.56 million, while revenues rose by 101.17% to $1.41 million. It was predicted that FREYR Battery’s quarterly earnings would be -$0.18, but it ended up being -$0.26, beating the consensus by 30.80%. EBITDA was -$33.5 million for the quarter. At the end of FREYR Battery’s most recent quarter ended June 29, its liabilities totaled 130.96 million, while its total debt was $21.87 million. Equity owned by shareholders amounts to $139.71 million.
Technical Picture
Here’s a quick look at FREYR Battery’s (FREY) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 33.42%, suggesting the stock is Neutral, with a 53.79% historical volatility rate.
The stochastic %K and %D were 25.72% and 28.01% respectively, while the average true range (ATR) was 0.44. Based on the 14-day stochastic reading of 1.56%, the RSI (14) reading is 38.14%. On the 9-day MACD Oscillator, the stock is at -0.15, and the 14-day reading is at -0.32.
Analyst Ratings
FREYR Battery (NYSE: FREY) was downgraded by Goldman to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned FREYR Battery (FREY) an Overweight rating. FREY is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is FREY’s price target for the next 12 months?
The current consensus forecast for the stock is between $10.00 and $16.00, with a median target price of $13.50. In analyzing these forecasts, the average price target given by analysts for FREYR Battery (FREY) is $13.17.
