Insider Selling: SES AI Co. (NYSE:SES) Major Shareholder Sells 71,176 Shares of Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 71,176 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $0.70, for a total transaction of $49,823.20. Following the completion of the sale, the insider now directly owns 41,936,583 shares of the company’s stock, valued at approximately $29,355,608.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

SES AI Price Performance

SES traded down $0.00 during midday trading on Wednesday, reaching $0.60. 2,506,859 shares of the company’s stock were exchanged, compared to its average volume of 1,070,572. The business’s 50-day moving average price is $0.98 and its 200 day moving average price is $1.22. The stock has a market capitalization of $212.81 million, a PE ratio of -3.73 and a beta of 2.43. SES AI Co. has a 1-year low of $0.57 and a 1-year high of $2.66.

SES AI (NYSE:SES) last announced its quarterly earnings data 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 last year, the firm posted ($0.04) EPS. As a group, analysts expect that SES AI Co. will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in SES AI by 20.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock valued at $535,000 after purchasing an additional 71,794 shares in the last quarter. Vanguard Group Inc. grew its stake in SES AI by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after acquiring an additional 82,245 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of SES AI during the 1st quarter valued at $88,000. Renaissance Technologies LLC lifted its holdings in shares of SES AI by 62.8% during the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock valued at $152,000 after buying an additional 46,800 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of SES AI by 1,039.9% during the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after purchasing an additional 225,299 shares during the last quarter. 29.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.