Insider Selling: SES AI Co. (NYSE:SES) Major Shareholder Sells 243,951 Shares of Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 243,951 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $0.60, for a total transaction of $146,370.60. Following the sale, the insider now owns 40,784,454 shares in the company, valued at $24,470,672.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, September 30th, Sk Inc. sold 71,176 shares of SES AI stock. The stock was sold at an average price of $0.70, for a total transaction of $49,823.20.

SES AI Price Performance

Shares of NYSE:SES traded up $0.02 during trading on Friday, hitting $0.62. 2,435,804 shares of the company were exchanged, compared to its average volume of 1,077,531. The firm’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.21. SES AI Co. has a 12-month low of $0.57 and a 12-month high of $2.66. The stock has a market capitalization of $219.99 million, a P/E ratio of -3.72 and a beta of 2.39.

SES AI (NYSE:SES) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, 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. Bank of New York Mellon Corp increased its stake in SES AI by 20.2% in the second 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. Vanguard Group Inc. grew its holdings in shares of SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after buying an additional 82,245 shares during the last quarter. EntryPoint Capital LLC acquired a new position in SES AI in the 1st quarter valued at about $88,000. SG Americas Securities LLC raised its stake in 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 acquiring an additional 31,832 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in SES AI by 62.8% during the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after acquiring an additional 46,800 shares during the period. Hedge funds and other institutional investors own 29.78% of the company’s stock.

Analysts Set New Price Targets

SES has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 price objective on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price objective for the company.

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.