Kim LLC Sells 2,510,329 Shares of FREYR Battery, Inc. (NYSE:FREY)

Kim LLC lessened its stake in shares of FREYR Battery, Inc. (NYSE:FREY) by 21.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,989,671 shares of the company’s stock after selling 2,510,329 shares during the period. FREYR Battery accounts for about 2.9% of Kim LLC’s portfolio, making the stock its 6th largest position. Kim LLC owned approximately 0.06% of FREYR Battery worth $23,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in FREYR Battery during the 4th quarter valued at $142,000. Cibc World Markets Corp bought a new stake in FREYR Battery during the 4th quarter valued at $27,000. Raymond James Financial Inc. bought a new stake in FREYR Battery during the 4th quarter valued at $36,000. SBI Securities Co. Ltd. bought a new stake in FREYR Battery during the 4th quarter valued at $28,000. Finally, Bank of New York Mellon Corp increased its stake in FREYR Battery by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 250,777 shares of the company’s stock valued at $647,000 after purchasing an additional 7,373 shares in the last quarter. Institutional investors and hedge funds own 52.31% of the company’s stock.

FREYR Battery Price Performance

NYSE FREY opened at $1.57 on Friday. FREYR Battery, Inc. has a 1 year low of $0.91 and a 1 year high of $3.36. The firm has a market cap of $220.57 million, a price-to-earnings ratio of -2.07 and a beta of 0.94. The company has a fifty day moving average price of $1.81 and a 200-day moving average price of $1.71.

Wall Street Analyst Weigh In

Separately, BTIG Research upgraded shares of FREYR Battery from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Friday, December 20th.

FREYR Battery 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.