As of Friday close, FREYR Battery’s (NYSE:FREY) stock was up $0.11, moving up 2.20 percent to $5.11. The average number of shares traded per day over the past five days has been 2,085,840 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.60 fall in that time frame. In the last twenty days, the average volume was 1,613,050, while in the previous 50 days, it was 1,936,674.
Since last month, FREY stock retreated -19.53%. Shares of the company fell to $5.00 on 09/21/23, the lowest level in the past month. A 52-week high of $16.94 was reached on 01/18/23 after having rallying from a 52-week low of $5.00. Since the beginning of this year, FREY’s stock price has dropped by -41.13% or -$3.57, and marked a new high 9 times. However, the stock has declined by -69.83% since its 52-week high.
Financial Health
In the three months ended June 29, FREYR Battery’s quick ratio stood at 6.90, while its current ratio was 6.90, showing that the company is able to pay off its debt.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. FREY’s revenue rose 101.17% to $1.41 million during the quarter, while net income inched up to -$2.56 million. While analysts expected FREYR Battery to report -$0.26 quarterly earnings, the actual figure was -$0.18 per share, beating the consensus estimate by 30.80%. During the quarter, the company generated -$33.5 million in EBITDA. The liabilities of FREYR Battery were 130.96 million at the end of its most recent quarter ended June 29, and its total debt was $21.87 million. The value of shareholders’ equity is $139.71 million.
Technical Picture
This quick technical analysis looks at FREYR Battery’s (FREY) price momentum. With a historical volatility rate of 34.43%, the RSI 9-day stood at 21.34% on 22 September.
With respect to its five-day moving average, the current FREYR Battery price is down by -10.51% percent or -$0.60. At present, FREY shares trade -17.45% below its 20-day simple moving average and -23.96% percent below its 100-day simple moving average. However, the stock is currently trading approximately -48.12% below its SMA50 and -57.63% below its SMA200.
Stochastic coefficient K was 14.21% and Stochastic coefficient D was 13.05%, while ATR was 0.30. Given the Stochastic reading of 7.01% for the 14-day period, the RSI (14) reading has been calculated as 25.78%. As of today, the MACD Oscillator reading stands at -0.41, while the 14-day reading stands at -0.68.
Analyst Ratings
FREYR Battery downgraded its rating on FREYR Battery (NYSE: FREY) to a Neutral in a note to investors on July 18, 2023. The analysts firm previously had a Buy rating on the stock.FREYR Battery (FREY) has been rated Overweight by analysts. According to 0 brokerage firms, FREY is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate FREYR Battery stock as buy, with 5 recommending it as overweight.
With a median target price of $14.00, the current consensus forecast for the stock is $10.00 – $20.00. Based on these forecasts, analysts predict FREYR Battery (FREY) will achieve an average price target of $14.00.
