Short Interest in SES AI Co. (NYSE:SES) Drops By 20.4%

SES AI Co. (NYSE:SES) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 4,140,000 shares, a decrease of 20.4% from the October 31st total of 5,200,000 shares. Based on an average daily trading volume, of 3,710,000 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.4% of the company’s shares are short sold.

SES AI Price Performance

Shares of SES AI stock opened at $0.35 on Monday. The business has a 50-day simple moving average of $0.50 and a 200 day simple moving average of $0.92. The firm has a market capitalization of $126.28 million, a price-to-earnings ratio of -1.52 and a beta of 2.43. SES AI has a one year low of $0.20 and a one year high of $2.44.

SES AI (NYSE:SES) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same quarter in the previous year, the company earned ($0.04) EPS. On average, sell-side analysts expect that SES AI will post -0.29 EPS for the current year.

Insider Buying and Selling at SES AI

In other news, CFO Jing Nealis sold 32,487 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $1.02, for a total transaction of $33,136.74. Following the completion of the transaction, the chief financial officer now directly owns 1,979,422 shares of the company’s stock, valued at $2,019,010.44. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek sold 165,539 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $1.04, for a total transaction of $172,160.56. Following the completion of the transaction, the insider now directly owns 5,466,590 shares of the company’s stock, valued at $5,685,253.60. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,551,072 shares of company stock valued at $5,061,174. 15.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SES AI

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of SES AI by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after acquiring an additional 82,245 shares in the last quarter. Geode Capital Management LLC grew its position in SES AI by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock worth $1,980,000 after purchasing an additional 83,607 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in SES AI by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock valued at $744,000 after buying an additional 46,778 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of SES AI by 1,039.9% in the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after buying an additional 225,299 shares during the last quarter. Institutional investors own 29.78% of the company’s stock.

Analyst Upgrades and Downgrades

SES has been the topic of several recent research reports. Wolfe Research started coverage on shares of SES AI in a report on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price target on shares of SES AI in a report on Tuesday, September 10th.

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 Woburn, Massachusetts.