SES AI Co. (NYSE:SES) Major Shareholder Sells $2,666,400.00 in Stock

SES AI Co. (NYSE:SES) major shareholder General Motors Holdings Llc sold 13,332,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the completion of the sale, the insider now directly owns 9,843,622 shares in the company, valued at $1,968,724.40. This trade represents a 57.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

SES AI Price Performance

NYSE:SES opened at $0.30 on Friday. The company has a 50 day moving average price of $0.57 and a 200-day moving average price of $0.97. SES AI Co. has a 1-year low of $0.20 and a 1-year high of $2.44. The firm has a market cap of $108.17 million, a price-to-earnings ratio of -1.30 and a beta of 2.43.

SES AI (NYSE:SES) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same quarter in the prior year, the business posted ($0.04) EPS. On average, sell-side analysts anticipate that SES AI Co. will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SES AI

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in shares of SES AI in the third quarter valued at approximately $28,000. SG Americas Securities LLC lifted its position in shares of SES AI by 91.6% during the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after buying an additional 31,832 shares in the last quarter. DRW Securities LLC purchased a new stake in SES AI in the 3rd quarter worth $52,000. EntryPoint Capital LLC acquired a new position in SES AI during the first quarter worth $88,000. Finally, Anson Funds Management LP purchased a new position in SES AI during the third quarter valued at $108,000. Hedge funds and other institutional investors own 29.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SES. Wolfe Research began coverage on shares of SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price objective 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.