SES AI (NYSE:SES) Shares Gap Down Following Insider Selling

SES AI Co. (NYSE:SES) shares gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $2.39, but opened at $2.28. SES AI shares last traded at $2.12, with a volume of 21,459,235 shares changing hands.

Specifically, CFO Jing Nealis sold 150,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $1.02, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $1.50 price target on shares of SES AI in a research note on Tuesday, September 10th. Wolfe Research started coverage on shares of SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 target price for the company.

SES AI Trading Down 11.5 %

The firm has a 50-day moving average of $0.49 and a 200-day moving average of $0.82. The stock has a market capitalization of $762.64 million, a price-to-earnings ratio of -9.20 and a beta of 2.27.

SES AI (NYSE:SES) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, equities research analysts anticipate that SES AI Co. will post -0.23 EPS for the current year.

Institutional Trading of SES AI

Several institutional investors and hedge funds have recently bought and sold shares of SES. SG Americas Securities LLC boosted its stake in shares of 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 buying an additional 31,832 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of SES AI in the third quarter worth approximately $28,000. Charles Schwab Investment Management Inc. increased its position in shares of SES AI by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock worth $744,000 after purchasing an additional 46,778 shares in the last quarter. Renaissance Technologies LLC raised its stake in 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 last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in 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 in the last quarter. 29.78% of the stock is currently owned by institutional investors and hedge funds.

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.