Hong Gan Sells 150,000 Shares of SES AI (NYSE:SES) Stock

SES AI Corporation (NYSE:SES) insider Hong Gan sold 150,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $2.50, for a total value of $375,000.00. Following the transaction, the insider owned 1,253,286 shares of the company’s stock, valued at approximately $3,133,215. This represents a 10.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hong Gan also recently made the following trade(s):

• On Friday, January 23rd, Hong Gan sold 100,000 shares of SES AI stock. The shares were sold at an average price of $2.50, for a total transaction of $250,000.00.
• On Monday, December 15th, Hong Gan sold 100,000 shares of SES AI stock. The shares were sold at an average price of $1.98, for a total transaction of $198,000.00.
• On Monday, November 17th, Hong Gan sold 150,000 shares of SES AI stock. The shares were sold at an average price of $1.90, for a total transaction of $285,000.00.

SES AI Price Performance

Shares of SES opened at $2.40 on Friday. The firm has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $1.80. The stock has a market cap of $874.35 million, a PE ratio of -8.55 and a beta of 0.57. SES AI Corporation has a 1-year low of $0.38 and a 1-year high of $3.73.

SES AI (NYSE:SES) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The company had revenue of $7.12 million for the quarter, compared to analysts’ expectations of $4.58 million. As a group, sell-side analysts expect that SES AI Corporation will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SES has been the topic of several research analyst reports. Cantor Fitzgerald boosted their price objective on SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a research report on Wednesday. Finally, Wall Street Zen raised shares of SES AI from a “sell” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in SES AI in the second quarter valued at $676,000. Franklin Resources Inc. acquired a new position in shares of SES AI during the 2nd quarter worth about $543,000. Farther Finance Advisors LLC purchased a new position in shares of SES AI in the 2nd quarter valued at about $125,000. Callan Family Office LLC acquired a new stake in shares of SES AI during the 2nd quarter worth about $38,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in SES AI during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 29.78% of the company’s stock.

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.