FREYR Battery (NYSE:FREY) Stock Price Down 4.8% – What’s Next?

FREYR Battery, Inc. (NYSE:FREY)’s stock price was down 4.8% during trading on Thursday . The company traded as low as $7.22 and last traded at $7.28. Approximately 15,377,518 shares changed hands during trading, an increase of 505% from the average daily volume of 2,541,737 shares. The stock had previously closed at $7.65.

FREYR Battery Stock Up 1.9%

The stock has a market cap of $975.00 million, a P/E ratio of -9.13 and a beta of 0.94. The company’s 50 day moving average price is $5.15 and its two-hundred day moving average price is $3.13.

FREYR Battery Company Profile

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.