Bank of New York Mellon Corp Grows Stock Position in SES AI Co. (NYSE:SES)

Bank of New York Mellon Corp lifted its holdings in shares of SES AI Co. (NYSE:SES) by 20.2% during the second quarter, Holdings Channel.com reports. The fund owned 427,944 shares of the company’s stock after acquiring an additional 71,794 shares during the period. Bank of New York Mellon Corp’s holdings in SES AI were worth $535,000 as of its most recent SEC filing.

Separately, EntryPoint Capital LLC acquired a new position in shares of SES AI in the 1st quarter valued at $88,000. Institutional investors and hedge funds own 29.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SES. Wolfe Research started coverage on SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price objective on shares of SES AI in a research note on Tuesday, September 10th.

SES AI Price Performance

NYSE:SES opened at $0.67 on Tuesday. The company’s fifty day moving average price is $1.05 and its 200-day moving average price is $1.26. SES AI Co. has a 1-year low of $0.66 and a 1-year high of $2.66. The firm has a market capitalization of $240.30 million, a P/E ratio of -4.21 and a beta of 2.43.

SES AI (NYSE:SES) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same period in the prior year, the business earned ($0.04) earnings per share. Equities analysts anticipate that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Transactions at SES AI

In related news, insider Hong Gan sold 25,000 shares of SES AI stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1.17, for a total transaction of $29,250.00. Following the completion of the transaction, the insider now directly owns 825,506 shares in the company, valued at $965,842.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Holdings (Private) Ltd Temasek sold 253,119 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $0.83, for a total transaction of $210,088.77. Following the sale, the insider now directly owns 2,297,782 shares of the company’s stock, valued at approximately $1,907,159.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hong Gan sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1.17, for a total value of $29,250.00. Following the sale, the insider now owns 825,506 shares in the company, valued at $965,842.02. The disclosure for this sale can be found here. Insiders have sold 1,598,311 shares of company stock worth $1,439,847 over the last quarter. 15.07% of the stock is currently owned by insiders.

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.