SES AI (NYSE:SES) Trading Down 4.9%

SES AI Co. (NYSE:SES)’s stock price traded down 4.9% on Thursday . The company traded as low as $2.12 and last traded at $2.12. 236,043 shares were traded during mid-day trading, a decline of 70% from the average session volume of 796,351 shares. The stock had previously closed at $2.23.

Analyst Ratings Changes

Separately, Wolfe Research cut SES AI from a “peer perform” rating to an “underperform” rating and set a $4.00 price target on the stock. in a research report on Thursday, June 8th.

SES AI Stock Down 5.8 %

The business has a 50-day simple moving average of $2.53 and a two-hundred day simple moving average of $2.39. The stock has a market capitalization of $737.75 million, a P/E ratio of -10.50 and a beta of 2.75.

SES AI (NYSE:SES) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. On average, sell-side analysts forecast that SES AI Co. will post -0.24 earnings per share for the current year.

Insider Activity

In other news, insider Hong Gan sold 50,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $1.91, for a total value of $95,500.00. Following the sale, the insider now owns 451,273 shares of the company’s stock, valued at $861,931.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Jing Nealis sold 10,650 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $2.67, for a total value of $28,435.50. Following the transaction, the chief financial officer now directly owns 1,565,251 shares in the company, valued at $4,179,220.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hong Gan sold 50,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $1.91, for a total transaction of $95,500.00. Following the completion of the transaction, the insider now owns 451,273 shares in the company, valued at $861,931.43. The disclosure for this sale can be found here. Insiders have sold 432,723 shares of company stock valued at $916,030 over the last 90 days. 15.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On SES AI

Several institutional investors and hedge funds have recently modified their holdings of SES. Vanguard Group Inc. grew its stake in shares of SES AI by 681.1% in the third quarter. Vanguard Group Inc. now owns 10,959,563 shares of the company’s stock valued at $53,483,000 after acquiring an additional 9,556,507 shares in the last quarter. BlackRock Inc. grew its stake in shares of SES AI by 193.3% in the second quarter. BlackRock Inc. now owns 8,729,851 shares of the company’s stock valued at $21,301,000 after acquiring an additional 5,753,859 shares in the last quarter. Invesco Ltd. acquired a new position in shares of SES AI in the first quarter valued at about $18,817,000. State Street Corp grew its stake in shares of SES AI by 207.9% in the second quarter. State Street Corp now owns 2,620,514 shares of the company’s stock valued at $6,394,000 after acquiring an additional 1,769,509 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of SES AI by 110.9% in the second quarter. Geode Capital Management LLC now owns 2,636,669 shares of the company’s stock valued at $6,433,000 after acquiring an additional 1,386,462 shares in the last quarter. 30.39% of the stock is currently owned by institutional investors and hedge funds.

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 Boston, Massachusetts.