FREYR Battery’s (NYSE: FREY) stock experienced a remarkable surge of 20% today, propelled by the company’s ongoing achievements in advanced battery cell production. These significant milestones have garnered increased confidence from prominent analysts such as Adam Jonas from Morgan Stanley, further bolstering the positive sentiment surrounding the company.

The company recently assembled and successfully charged their first batch of semi-automated battery unit cells at their Customer Qualification Plant in Norway. This achievement is a big step forward for FREYR, as it allows them to automate the production process and start testing chargeable cells by the second half of 2023.

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The Norwegian Government is also planning to announce a support package for the battery industry, which could have positive implications for FREYR’s plans. They are considering expanding their factory configuration based on the successful Giga America development model. If things go well, they could start production in 2025.

FREYR’s progress with strategic partnerships is also worth noting. They are currently in discussions with more than 10 potential partners who are evaluating the opportunity to collaborate. Additionally, several companies have shown interest in participating in the project-level equity raise. The company is also working closely with financial institutions to secure the necessary funding by the third quarter of 2023. If all goes as planned, they expect to start production in 2025.

In a recent development, FREYR partnered with a USD $30B Chinese company called “Sunwoda Electronic” who’s engaged in the research, development, manufacturing, and sales of lithium-ion batteries products.

The company also received a signal from a prominent passenger vehicle (OEM) that plans to join forces with FREYR’s strategic energy transition coalition, which already includes industry giants such as Caterpillar, Glencore Plc, Siemens AG, and Nidec Corporation. This partnership is set to forge a strategic alliance with a common goal of collaboratively manufacturing high-quality electric vehicle (EV) batteries specifically designed for passenger vehicles.

The company’s sales pipelines continue to grow rapidly, with strong interest from customers in energy storage systems, commercial mobility, and electric vehicles. They are currently in talks with over 70 potential customers, ranging from power producers to battery technology providers and commercial vehicle manufacturers. The total estimated demand for their battery solutions exceeds 600 GWh by 2030.

Thoughts from major analysts and the retail community:

These advancements haven’t gone unnoticed by analysts and the retail community alike. The latest developments promote an increasingly proactive audience that continues to identify emerging trends and buying opportunities.

One user keenly observed an important development involving Adam Jonas, the Head of Global Auto & Shared Mobility at Morgan Stanley. Jonas recently upgraded his recommendation on the stock and revised the price target to $13, implying a potential increase of 42.2% from the current levels. In addition to the price target upgrade, Jonas also adjusted his position from Equal-Weight to Overweight, indicating a heightened positive outlook on the stock’s performance. This shift in stance further underscores the growing recognition of the company’s potential and highlights the confidence placed in its future prospects.

Jonas goes back to OW on $FREY $13 PT pic.twitter.com/EH3M05lZs1

— Eric Jackson (@ericjackson) June 28, 2023

The analyst is optimistic about the stock’s performance, particularly if the company achieves important commercial milestones mentioned above in the near future.

Deeper dive on Equal-Weight vs. Overweight:
An Overweight rating indicates that the analyst expects the stock to perform better than the average performance of its peers or the overall market. It suggests that the investor should consider allocating a higher weight or exposure to the stock in their portfolio compared to its representation in the market or sector. It implies a positive outlook and an expectation of above-average returns for the stock.

Both rating designations, Equal-Weight and Overweight, are relative assessments and depend on the specific analyst’s opinion and outlook for the stock. It’s important to note that different investment firms or analysts may have their own variations of rating systems, so it’s always beneficial to understand the specific criteria and context used by the analyst providing the rating.

Another user “Mini_Tradewz” believes there’s potential considering the low selling volume against VWAP (9.20), indicating buyers are still present.

Keeping eyes on $FREY for a trigger of $9.25 break to make a move

Low selling volume against VWAP (9.20) with buyers still present

— Mini_Tradez (@Mini_Tradez) June 29, 2023

What’s VWAP?:

VWAP stands for Volume Weighted Average Price. It is a trading indicator used by traders and investors to calculate the average price at which a particular security has been traded throughout the day, taking into account both the price and the volume of each transaction. VWAP is often used as a benchmark to evaluate the execution quality of trades or to determine the fair value of a security.

The VWAP is calculated by multiplying the price of each transaction by the corresponding trading volume, summing up these values, and dividing the total by the cumulative trading volume. This calculation gives more weight to transactions with higher volume, hence the term “Volume Weighted” in the name.

Traders use VWAP as a reference point to assess whether they are buying or selling a security at a favorable price compared to the average price of the day. It can also help identify potential support or resistance levels in the market. VWAP is commonly used by institutional investors, algorithmic traders, and day traders to guide their trading decisions and assess market trends.

Additional Posts by Other Users:

Joint Venture Speculation @FiskerInc $FSR & @FREYRBattery $FREY

Giga America w/ FREYR Battery for a decentralized, decarbonized and democratized battery supply agreement in USA

38 gigawatt-hours begins 2025 w/ 1.6 gigawatt-hour scale

$FREY Capital Markets Day is June 27 pic.twitter.com/7nIHsszo2C

— FiskerWhale (@FISKERWHALE) June 26, 2023

1/ $FREY FREYR Battery – Analyst/Investor Day

FREYR’s Progress and Future Outlook:

FREYR is transitioning from a ‘PowerPoint company’ to a battery company, with operating assets and ongoing production. Jensen underscored the company’s competitive edge in the industry and… pic.twitter.com/CuceSHp4N9

— LongYield (@LongYield) June 28, 2023

$Frey Battery

The 5 analysts offering 12-month price forecasts for FREYR Battery SA have a median target of 15.00, with a high estimate of 20.00 and a low estimate of 13.00. The median estimate represents a +113.83% increase from the last price of 7.02.

— XO (@ExclusiveCoin1) June 29, 2023

$frey making a move, long from $8.95 pic.twitter.com/39fe34QfDm

— joe (@joetrapolini) June 29, 2023

$FREY Awaiting Buy Signal based off 9 signals on the 15-min chart. Free trial at https://t.co/OB4KuLJjyA pic.twitter.com/BZ0WKxEWad

— GNRoses (@TortozaPalma) June 28, 2023

$FREY got an upgrade from MS. Neglected stock.

Not a liquid name for ORH/ORB pic.twitter.com/a6z4cEiFRs

— AD (@xsigmatrader) June 29, 2023

Conclusion:

FREYR Battery (NYSE: FREY) presents an intriguing investment opportunity, driven by its notable progress in collaboration with the Norwegian government, robust strategic partnerships, and a growing market landscape. However, it’s crucial to conduct thorough research and exercise due diligence before making any investment decisions. This article serves as a compilation of recent news, insights from both retail and analysts, but it’s essential to form your own conclusions based on personal evaluation and analysis.

We will update you on FREY when more details emerge, subscribe to Microcapdaily to follow along!

Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Picture by Geralt on Pixabay

The post FREYR Battery (NASDAQ: FREY) Makes Waves as Government Support and Strategic Partnerships Drive Growth first appeared on Micro Cap Daily.

The post FREYR Battery (NASDAQ: FREY) Makes Waves as Government Support and Strategic Partnerships Drive Growth appeared first on Micro Cap Daily.

batteries
energy storage
electric vehicle