Charles Schwab Investment Management Inc. Cuts Stake in FREYR Battery, Inc. (NYSE:FREY)

Charles Schwab Investment Management Inc. trimmed its stake in FREYR Battery, Inc. (NYSE:FREY) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 264,505 shares of the company’s stock after selling 17,204 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in FREYR Battery were worth $257,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC grew its stake in shares of FREYR Battery by 0.7% during the 3rd quarter. Jennison Associates LLC now owns 1,327,877 shares of the company’s stock valued at $1,288,000 after buying an additional 9,667 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in FREYR Battery during the second quarter valued at about $676,000. Bank of New York Mellon Corp acquired a new stake in FREYR Battery during the second quarter worth about $571,000. Green Alpha Advisors LLC raised its holdings in shares of FREYR Battery by 29.0% in the 3rd quarter. Green Alpha Advisors LLC now owns 257,767 shares of the company’s stock worth $250,000 after purchasing an additional 57,951 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of FREYR Battery in the 2nd quarter valued at about $218,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

FREYR Battery Stock Performance

Shares of NYSE:FREY opened at $1.81 on Friday. FREYR Battery, Inc. has a 1 year low of $0.91 and a 1 year high of $2.85. The stock has a 50-day simple moving average of $1.65 and a 200-day simple moving average of $1.51. The stock has a market capitalization of $254.29 million, a P/E ratio of -2.38 and a beta of 1.03.

FREYR Battery (NYSE:FREY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). During the same period in the prior year, the firm posted ($0.07) EPS.

Insider Buying and Selling

In other news, CFO Joseph Evan Calio acquired 125,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $1.74 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief financial officer now directly owns 255,600 shares of the company’s stock, valued at approximately $444,744. This trade represents a 95.71 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tore Ivar Slettemoen sold 184,621 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $1.67, for a total transaction of $308,317.07. Following the transaction, the director now directly owns 6,616,105 shares in the company, valued at approximately $11,048,895.35. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.40% of the stock is owned by corporate insiders.

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.