SES AI Co. (NYSE:SES) Major Shareholder Sk Inc. Sells 400,000 Shares

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 400,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $0.61, for a total value of $244,000.00. Following the completion of the transaction, the insider now owns 39,927,701 shares in the company, valued at $24,355,897.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Sk Inc. also recently made the following trade(s):

• On Wednesday, October 9th, Sk Inc. sold 2,481 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total value of $1,488.60.
• On Monday, October 7th, Sk Inc. sold 82,429 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total value of $49,457.40.
• On Friday, October 4th, Sk Inc. sold 100,000 shares of SES AI stock. The shares were sold at an average price of $0.61, for a total value of $61,000.00.
• On Wednesday, October 2nd, Sk Inc. sold 243,951 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total value of $146,370.60.
• On Monday, September 30th, Sk Inc. sold 71,176 shares of SES AI stock. The shares were sold at an average price of $0.70, for a total value of $49,823.20.

SES AI Trading Down 4.2 %

Shares of SES AI stock opened at $0.60 on Wednesday. The company has a market capitalization of $212.89 million, a PE ratio of -3.73 and a beta of 2.39. SES AI Co. has a 12 month low of $0.55 and a 12 month high of $2.57. The stock’s fifty day simple moving average is $0.87 and its 200 day simple moving average is $1.15.

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 period last year, the business earned ($0.04) earnings per share. Analysts predict that SES AI Co. will post -0.23 EPS for the current fiscal year.

Institutional Trading of SES AI

Several hedge funds have recently added to or reduced their stakes in SES. Squarepoint Ops LLC raised its stake in shares of SES AI by 1,039.9% in the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock valued at $309,000 after purchasing an additional 225,299 shares during the period. Vanguard Group Inc. raised its stake in shares of SES AI by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after purchasing an additional 82,245 shares during the period. Bank of New York Mellon Corp raised its stake in shares of SES AI by 20.2% in 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 acquired a new stake in shares of SES AI in the 1st quarter valued at about $88,000. Finally, Renaissance Technologies LLC raised its stake in shares of SES AI by 62.8% in the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock valued at $152,000 after purchasing an additional 46,800 shares during the period. Institutional investors and hedge funds own 29.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on 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 reissued a “hold” rating and issued a $1.50 price target on shares of SES AI in a research note on Tuesday, September 10th.

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.