SES AI (NYSE:SES) Trading Down 11.4% – What’s Next?

SES AI Co. (NYSE:SES) shares traded down 11.4% on Thursday . The company traded as low as $1.84 and last traded at $1.94. 7,247,508 shares were traded during trading, an increase of 118% from the average session volume of 3,326,584 shares. The stock had previously closed at $2.19.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price target on shares of SES AI in a research note on Tuesday, September 10th. Wolfe Research started coverage on SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 target price for the company.

SES AI Trading Down 8.2 %

The company has a market capitalization of $724.78 million, a P/E ratio of -8.74 and a beta of 2.27. The company’s 50 day moving average is $0.58 and its 200-day moving average is $0.85.

SES AI (NYSE:SES) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period in the previous year, the company earned ($0.04) earnings per share. Analysts predict that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Transactions at SES AI

In related news, CFO Jing Nealis sold 150,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $1.02, for a total transaction of $153,000.00. Following the sale, the chief financial officer now directly owns 1,935,322 shares of the company’s stock, valued at $1,974,028.44. This trade represents a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $0.20, for a total value of $2,666,400.00. Following the completion of the transaction, the insider now directly owns 9,843,622 shares of the company’s stock, valued at approximately $1,968,724.40. This trade represents a 57.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,866,910 shares of company stock valued at $3,663,346. Insiders own 15.07% of the company’s stock.

Institutional Investors Weigh In On SES AI

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in SES AI during the third quarter valued at $28,000. SG Americas Securities LLC lifted its stake in shares of SES AI by 91.6% in the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock worth $43,000 after purchasing an additional 31,832 shares during the period. DRW Securities LLC purchased a new position in shares of SES AI during the 3rd quarter worth $52,000. Anson Funds Management LP purchased a new stake in shares of SES AI in the 3rd quarter worth $108,000. Finally, Barclays PLC raised its holdings in SES AI by 281.1% in the 3rd quarter. Barclays PLC now owns 171,860 shares of the company’s stock worth $109,000 after purchasing an additional 126,763 shares during the period. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

About SES AI

SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles, electric vehicle take-off and landing, and other applications. The company was founded in 2012 and is headquartered in Woburn, Massachusetts.