SES AI (NYSE:SES) Price Target Cut to $4.00

SES AI (NYSE:SES – Get Rating) had its price objective decreased by research analysts at Deutsche Bank Aktiengesellschaft from $7.00 to $4.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 41.84% from the stock’s current price.

SES AI Stock Performance

Shares of NYSE:SES opened at $2.82 on Wednesday. SES AI has a one year low of $2.63 and a one year high of $10.18. The stock has a fifty day moving average of $3.25 and a 200-day moving average of $4.26. The company has a market capitalization of $986.51 million, a PE ratio of -13.85 and a beta of 2.40.

Insider Activity

In other news, CFO Jing Nealis sold 10,795 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $3.28, for a total transaction of $35,407.60. Following the completion of the sale, the chief financial officer now owns 1,445,718 shares in the company, valued at approximately $4,741,955.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 40,825 shares of company stock worth $142,572. Insiders own 12.30% of the company’s stock.

Institutional Trading of SES AI

Hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas purchased a new stake in shares of SES AI in the second quarter valued at $55,000. Rhumbline Advisers purchased a new stake in shares of SES AI in the second quarter valued at $55,000. Royal Bank of Canada purchased a new stake in shares of SES AI in the first quarter valued at $52,000. Ensign Peak Advisors Inc purchased a new stake in shares of SES AI in the third quarter valued at $43,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of SES AI in the first quarter valued at $37,000. Hedge funds and other institutional investors own 27.39% of the company’s stock.

SES AI Company Profile

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SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles and other applications. The company was founded in 2012 and is headquartered in Boston, Massachusetts.