FREYR Battery (NYSE:FREY) Trading Down 3.8% – Should You Sell?

FREYR Battery, Inc. (NYSE:FREY)’s share price traded down 3.8% during trading on Wednesday . The company traded as low as $4.22 and last traded at $4.28. 16,220,991 shares changed hands during mid-day trading, an increase of 538% from the average session volume of 2,541,737 shares. The stock had previously closed at $4.45.

FREYR Battery Price Performance

The firm’s 50 day moving average is $5.84 and its 200 day moving average is $6.58. The company has a market capitalization of $599.89 million, a PE ratio of -5.62 and a beta of 0.94.

About FREYR Battery

FREYR Battery is a sustainable battery technology and manufacturing company focused on producing high-performance lithium-ion cells for electric vehicles (EVs) and energy storage systems. The company aims to leverage low-carbon hydroelectric power in Norway and renewable energy sources in other regions to supply clean battery cells that meet the growing global demand for decarbonized transportation and grid resilience. FREYR’s product roadmap includes battery modules, packs and integrated storage solutions, designed to serve auto manufacturers, utilities and large-scale commercial energy users.

Headquartered in Oslo, Norway, FREYR Battery was founded in 2018 with the mission of establishing cost-efficient, scalable gigafactories in strategic locations.