Southpoint Capital Advisors LP Buys New Shares in FREYR Battery, Inc. (NYSE:FREY)

Southpoint Capital Advisors LP bought a new stake in FREYR Battery, Inc. (NYSE:FREY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,783,726 shares of the company’s stock, valued at approximately $14,922,000. Southpoint Capital Advisors LP owned about 4.12% of FREYR Battery at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. EAM Investors LLC purchased a new stake in FREYR Battery during the fourth quarter valued at about $614,000. Rhumbline Advisers grew its position in FREYR Battery by 28.3% during the fourth quarter. Rhumbline Advisers now owns 142,382 shares of the company’s stock valued at $367,000 after acquiring an additional 31,421 shares during the period. Truist Financial Corp purchased a new stake in FREYR Battery during the fourth quarter valued at about $26,000. CenterBook Partners LP purchased a new stake in FREYR Battery during the fourth quarter valued at about $640,000. Finally, SBI Securities Co. Ltd. purchased a new stake in FREYR Battery during the fourth quarter valued at about $28,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

FREYR Battery Trading Down 7.1%

FREY stock opened at $1.18 on Monday. The stock has a 50-day moving average price of $1.29 and a two-hundred day moving average price of $1.77. FREYR Battery, Inc. has a 12-month low of $0.91 and a 12-month high of $3.36. The company has a market cap of $165.78 million, a PE ratio of -1.55 and a beta of 0.94.

FREYR Battery Company Profile

FREYR Battery, Inc provides battery solutions in the United States, Norway, and internationally. The company develops battery cell manufacturing facilities. It serves its products to energy storage systems and commercial mobility, including marine applications and commercial vehicles markets. The company is headquartered in Luxembourg.