FREYR Battery (NYSE:FREY) saw a downside of -3.40% to close Tuesday at $6.54 after subtracting -$0.23 on the day. The 5-day average trading volume is 2,621,480 shares of the company’s common stock. It has gained $7.32 in the past week and touched a new high 1 time within the past 5 days. An average of 2,022,760 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,386,346.
FREY’s 1-month performance is -19.95% or -$1.76 on its low of $6.08 reached on 08/17/23. The company’s shares have touched a 52-week low of $6.08 and high of $16.94, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, FREY has lost -24.65% or -$2.14 and has reached a new high 9 times. However, the current price is down -61.39% from the 52-week high price.
Valuation Metrics
FREY stock has a beta of 0.81. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.45.
FREYR Battery’s quick ratio for the period ended June 30 was 6.90, with the current ratio over the same period at 6.90.
Earnings Surprise
For the quarterly period ending June 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 118.47% to -$25.28 million, while revenue of -$12.73 million was 49.64% off the previous quarter. Analysts expected FREY to announce -$0.26 per share in earnings in its latest quarter, but it posted -$0.18, representing a 30.80% surprise. EBITDA for the quarter stood at more than -$33.5 million. FREY stock balance sheet for the quarter ending June 30 shows that total liabilities totaled 130.96 million, with total debt at $21.87 million. Shareholders hold equity totaling $139.71 million.
Let’s look briefly at FREYR Battery (FREY) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 31.85% to suggest the stock is trending Neutral, with historical volatility in this time period at 74.40%.
The stock’s 5-day moving average is $6.62, reflecting a -10.04% or -$0.73 change from its current price. FREY is currently trading -16.48% above its 20-day SMA, -21.58% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -11.50% and SMA200 by-48.30%.
Stochastic %K and %D was 24.28% and 19.47% and the average true range (ATR) pointed at 0.46. The RSI (14) points at 34.99%, while the 14-day stochastic is at 20.96% with the period’s ATR at 0.47. The stock’s 9-day MACD Oscillator is pointing at -0.45 and -0.73 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for FREYR Battery (NYSE: FREY), Goldman downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for FREY stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate FREY as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is FREY’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $10.00 and a high of $16.00, with their median price target at $13.50. Looking at these predictions, the average price target given by analysts is for FREYR Battery (FREY) stock is $13.17.
