Charles Schwab Investment Management Inc. Grows Stock Position in SES AI Co. (NYSE:SES)

Charles Schwab Investment Management Inc. increased its position in shares of SES AI Co. (NYSE:SES) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 1,162,112 shares of the company’s stock after purchasing an additional 46,778 shares during the period. Charles Schwab Investment Management Inc.’s holdings in SES AI were worth $744,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its holdings in shares of SES AI by 1,039.9% during the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after buying an additional 225,299 shares in the last quarter. Bank of New York Mellon Corp grew its stake in SES AI by 20.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock valued at $535,000 after acquiring an additional 71,794 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 acquiring an additional 46,800 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in SES AI by 91.6% in the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock worth $43,000 after purchasing an additional 31,832 shares in the last quarter. 29.78% of the stock is owned by institutional investors and hedge funds.

SES AI Price Performance

SES AI stock opened at $0.40 on Thursday. The firm has a 50 day simple moving average of $0.44 and a 200-day simple moving average of $0.84. The stock has a market cap of $143.51 million, a price-to-earnings ratio of -1.73 and a beta of 2.27. SES AI Co. has a 1-year low of $0.20 and a 1-year high of $2.28.

SES AI (NYSE:SES) last announced 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 last year, the business earned ($0.04) earnings per share. Equities analysts expect that SES AI Co. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at SES AI

In related news, major shareholder Sk Inc. sold 71,176 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $0.70, for a total value of $49,823.20. Following the sale, the insider now owns 41,936,583 shares in the company, valued at approximately $29,355,608.10. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings (Private) Ltd Temasek sold 253,119 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $0.83, for a total value of $210,088.77. Following the transaction, the insider now owns 2,297,782 shares of the company’s stock, valued at $1,907,159.06. This trade represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,285,156 shares of company stock worth $3,916,629. 15.07% of the stock is currently owned by insiders.

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.