Renaissance Technologies LLC Purchases 46,800 Shares of SES AI Co. (NYSE:SES)

Renaissance Technologies LLC lifted its position in SES AI Co. (NYSE:SES) by 62.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 121,300 shares of the company’s stock after buying an additional 46,800 shares during the period. Renaissance Technologies LLC’s holdings in SES AI were worth $152,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position 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 during the period. EntryPoint Capital LLC bought a new position in shares of SES AI during the first quarter valued at approximately $88,000. Finally, Vanguard Group Inc. increased its holdings in SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after buying an additional 82,245 shares during the period. 29.78% of the stock is owned by hedge funds and other institutional investors.

SES AI Stock Up 10.6 %

NYSE:SES opened at $0.63 on Monday. The stock has a market capitalization of $223.93 million, a price-to-earnings ratio of -3.48 and a beta of 2.39. SES AI Co. has a 52 week low of $0.55 and a 52 week high of $2.57. The firm has a 50 day moving average of $0.88 and a 200 day moving average of $1.17.

SES AI (NYSE:SES) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same quarter in the previous year, the firm posted ($0.04) earnings per share. As a group, analysts expect that SES AI Co. will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Holdings (Private) Ltd Temasek sold 165,539 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $1.04, for a total transaction of $172,160.56. Following the transaction, the insider now owns 5,466,590 shares in the company, valued at $5,685,253.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Jing Nealis sold 32,487 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1.02, for a total value of $33,136.74. Following the transaction, the chief financial officer now directly owns 1,979,422 shares of the company’s stock, valued at approximately $2,019,010.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek sold 165,539 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $1.04, for a total transaction of $172,160.56. Following the transaction, the insider now directly owns 5,466,590 shares of the company’s stock, valued at $5,685,253.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,073,348 shares of company stock valued at $1,718,737. 15.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SES has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price objective on the stock.

SES AI Company Profile

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.