SES AI (NYSE:SES) Shares Gap Up – Still a Buy?

SES AI Co. (NYSE:SES) gapped up prior to trading on Friday . The stock had previously closed at $1.90, but opened at $2.30. SES AI shares last traded at $2.33, with a volume of 18,157,049 shares trading hands.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price target on shares of SES AI in a report on Tuesday, September 10th.

SES AI Stock Up 18.4 %

The company has a market cap of $811.32 million, a price-to-earnings ratio of -9.78 and a beta of 2.27. The firm has a 50 day moving average price of $0.64 and a two-hundred day moving average price of $0.86.

SES AI (NYSE:SES) last released its earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same quarter last year, the business earned ($0.04) EPS. On average, equities analysts expect that SES AI Co. will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In other SES AI news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of SES AI stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $0.20, for a total value 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 approximately $1,968,724.40. The trade was a 57.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sk Inc. sold 400,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $0.61, for a total value of $244,000.00. Following the transaction, the insider now owns 39,927,701 shares in the company, valued at $24,355,897.61. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,766,910 shares of company stock valued at $3,602,346 over the last quarter. 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 position in shares of SES AI during the third quarter worth approximately $28,000. SG Americas Securities LLC raised its holdings in SES AI by 91.6% during 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. DRW Securities LLC bought a new position in shares of SES AI in the third quarter valued at $52,000. Anson Funds Management LP acquired a new position in shares of SES AI during the third quarter valued at about $108,000. Finally, Barclays PLC increased its position in shares of SES AI by 281.1% during the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock worth $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.