SES AI (NYSE:SES) Shares Gap Up – Should You Buy?

SES AI Co. (NYSE:SES) shares gapped up before the market opened on Thursday . The stock had previously closed at $0.71, but opened at $1.02. SES AI shares last traded at $1.56, with a volume of 70,695,989 shares changing hands.

Wall Street Analyst Weigh In

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

SES AI Price Performance

The firm has a fifty day moving average of $0.49 and a two-hundred day moving average of $0.83. The stock has a market capitalization of $861.80 million, a P/E ratio of -10.39 and a beta of 2.27.

SES AI (NYSE:SES) last posted 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 company posted ($0.04) EPS. As a group, sell-side analysts forecast that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other SES AI news, CFO Jing Nealis sold 150,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $1.02, for a total value of $153,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,935,322 shares in the company, valued at approximately $1,974,028.44. The trade was a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Sk Inc. sold 243,951 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $0.60, for a total transaction of $146,370.60. Following the completion of the sale, the insider now owns 40,784,454 shares in the company, valued at $24,470,672.40. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,182,037 shares of company stock worth $3,859,540 over the last 90 days. Company insiders own 15.07% of the company’s stock.

Institutional Investors Weigh In On SES AI

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of SES AI by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock valued at $117,000 after purchasing an additional 122,803 shares during the last quarter. Barclays PLC increased its position in SES AI by 281.1% during the 3rd quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after buying an additional 126,763 shares in the last quarter. Geode Capital Management LLC raised its stake in SES AI by 2.8% in the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after buying an additional 83,607 shares during the last quarter. Anson Funds Management LP acquired a new stake in SES AI in the third quarter worth about $108,000. Finally, XTX Topco Ltd purchased a new stake in shares of SES AI during the third quarter worth about $28,000. 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.