SES AI (NYSE:SES) Hits New 52-Week High – Here’s Why

SES AI Co. (NYSE:SES)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $2.44 and last traded at $2.44, with a volume of 34017000 shares trading hands. The stock had previously closed at $1.42.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SES. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research began 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 Trading Up 68.3 %

The company has a 50-day moving average of $0.49 and a 200-day moving average of $0.83. The firm has a market capitalization of $861.79 million, a P/E ratio of -10.39 and a beta of 2.27.

SES AI (NYSE:SES) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period in the previous year, the business posted ($0.04) EPS. Research analysts predict that SES AI Co. will post -0.23 EPS for the current year.

Insider Activity at SES AI

In other news, CFO Jing Nealis sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total transaction of $153,000.00. Following the completion of the sale, the chief financial officer now owns 1,935,322 shares of the company’s stock, valued at $1,974,028.44. This trade represents a 7.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Sk Inc. sold 71,176 shares of SES AI stock in a transaction on 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 owns 41,936,583 shares of the company’s stock, valued at $29,355,608.10. This represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,182,037 shares of company stock worth $3,859,540 over the last quarter. Company insiders own 15.07% of the company’s stock.

Hedge Funds Weigh In On SES AI

Several institutional investors have recently made changes to their positions in SES. XTX Topco Ltd acquired a new stake in shares of SES AI in the 3rd quarter valued at about $28,000. SG Americas Securities LLC boosted its holdings in SES AI by 91.6% in the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock worth $43,000 after acquiring an additional 31,832 shares in the last quarter. DRW Securities LLC acquired a new stake in SES AI in the third quarter valued at approximately $52,000. Anson Funds Management LP bought a new stake in shares of SES AI during the third quarter valued at approximately $108,000. Finally, Barclays PLC increased its holdings in shares of SES AI by 281.1% during the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after acquiring an additional 126,763 shares in the last quarter. Institutional investors and hedge funds own 29.78% of the company’s 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.