FREYR Battery (NYSE:FREY) saw an upside of 2.20% to $5.11 after adding $0.11 on Wednesday. The 5-day average trading volume is 1,513,791 shares of the company’s common stock. It has gained $5.35 in the past week and touched a new high 3 times within the past 5 days. An average of 1,631,008 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,827,533.
FREY’s 1-month performance is -19.53% or -$1.25 on its low of $4.98 reached on 09/26/23. The company’s shares have touched a 52-week low of $4.98 and high of $16.94, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, FREY has lost -41.13% or -$3.58 and has reached a new high 9 times. However, the current price is down -69.83% from the 52-week high price.
Valuation Metrics
FREY stock has a beta of 0.87. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.13.
FREYR Battery’s quick ratio for the period ended June 29 was 6.90, with the current ratio over the same period at 6.90. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.03, while the total debt to equity was 0.03.
Earnings Surprise
For the quarterly period ending June 29 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 29 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 26 September was 26.87% to suggest the stock is trending oversold, with historical volatility in this time period at 36.49%.
The stock’s 5-day moving average is $5.07, reflecting a -3.23% or -$0.17 change from its current price. FREY is currently trading -21.90% above its 20-day SMA, -24.22% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -42.63% and SMA200 by-53.38%.
Stochastic %K and %D was 6.04% and 6.78% and the average true range (ATR) pointed at 0.29. The RSI (14) points at 28.44%, while the 14-day stochastic is at 8.44% with the period’s ATR at 0.31. The stock’s 9-day MACD Oscillator is pointing at -0.18 and -0.45 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.
