SES AI Co. (NYSE:SES) Major Shareholder Sells $146,370.60 in 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 shares were sold at an average price of $0.60, for a total value of $146,370.60. Following the completion of the transaction, the insider now directly owns 40,784,454 shares of the company’s stock, valued at $24,470,672.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 SES AI stock opened at $0.62 on Friday. The stock has a market capitalization of $219.99 million, a price-to-earnings ratio of -3.85 and a beta of 2.39. The firm’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $1.21. SES AI Co. has a 12 month low of $0.57 and a 12 month high of $2.66.

SES AI (NYSE:SES) last announced its earnings results on Monday, July 29th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). During the same quarter last year, the firm earned ($0.04) EPS. Analysts anticipate that SES AI Co. will post -0.23 earnings per share for the current year.

Institutional Trading of SES AI

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in shares of SES AI by 91.6% in the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after purchasing an additional 31,832 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of SES AI during the first quarter worth $88,000. Renaissance Technologies LLC grew its position 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 buying an additional 46,800 shares during the last quarter. Squarepoint Ops LLC increased its stake in SES AI by 1,039.9% in the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock valued at $309,000 after buying an additional 225,299 shares during the period. Finally, Bank of New York Mellon Corp raised its position 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 worth $535,000 after buying an additional 71,794 shares during the last quarter. 29.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SES. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price target on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on SES AI in a report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 target price for the company.

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.