Analysts Offer Predictions for FREYR Battery SA’s FY2021 Earnings (NYSE:FREY)

FREYR Battery SA (NYSE:FREY) – Research analysts at Piper Sandler dropped their FY2021 earnings estimates for shares of FREYR Battery in a research report issued on Tuesday, January 11th. Piper Sandler analyst G. Tuttle now anticipates that the company will earn ($0.63) per share for the year, down from their previous estimate of ($0.58). Piper Sandler has a “Neutral” rating on the stock. Piper Sandler also issued estimates for FREYR Battery’s Q4 2021 earnings at ($0.31) EPS, Q1 2022 earnings at ($0.13) EPS, Q2 2022 earnings at ($0.15) EPS, Q3 2022 earnings at ($0.15) EPS, Q4 2022 earnings at ($0.17) EPS, FY2022 earnings at ($0.60) EPS, Q1 2023 earnings at ($0.20) EPS, Q2 2023 earnings at ($0.23) EPS, Q3 2023 earnings at ($0.51) EPS, Q4 2023 earnings at ($0.51) EPS and FY2023 earnings at ($1.45) EPS.

FREYR Battery (NYSE:FREY) last issued its quarterly earnings results on Sunday, November 14th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.33). During the same period in the previous year, the company earned ($0.04) EPS.

Several other brokerages have also recently commented on FREY. Zacks Investment Research cut shares of FREYR Battery from a “hold” rating to a “sell” rating in a research report on Friday, November 19th. JPMorgan Chase & Co. assumed coverage on shares of FREYR Battery in a report on Thursday, November 18th. They issued a “neutral” rating on the stock. Finally, Credit Suisse Group assumed coverage on shares of FREYR Battery in a report on Tuesday, October 12th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.33.

Shares of NYSE:FREY opened at $9.34 on Thursday. The business’s 50-day simple moving average is $11.06. FREYR Battery has a one year low of $7.71 and a one year high of $14.37. The company has a market cap of $1.09 billion, a PE ratio of -2.75 and a beta of -0.10.

Several large investors have recently made changes to their positions in the business. IFP Advisors Inc grew its position in shares of FREYR Battery by 900.0% during the 4th quarter. IFP Advisors Inc now owns 5,000 shares of the company’s stock worth $56,000 after purchasing an additional 4,500 shares in the last quarter. Jefferies Group LLC bought a new stake in FREYR Battery in the third quarter worth about $2,604,000. Balyasny Asset Management LLC purchased a new position in shares of FREYR Battery in the third quarter worth about $266,000. Suvretta Capital Management LLC purchased a new position in FREYR Battery during the third quarter valued at approximately $20,665,000. Finally, Sylebra Capital Ltd purchased a new position in FREYR Battery in the 3rd quarter worth approximately $122,578,000. Hedge funds and other institutional investors own 44.11% of the company’s stock.

FREYR Battery Company Profile

FREYR offers a clean Nordic solution to the rapidly growing global demand for high-density and cost-competitive battery cells for stationary energy storage (ESS), electric mobility, and marine applications.

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Earnings History and Estimates for FREYR Battery (NYSE:FREY)

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