SES AI (NYSE:SES) Stock Price Down 6.4% Following Insider Selling

SES AI Corporation (NYSE:SES) shares dropped 6.4% during trading on Friday after an insider sold shares in the company. The stock traded as low as $2.40 and last traded at $2.4050. Approximately 2,653,911 shares traded hands during trading, a decline of 61% from the average daily volume of 6,769,592 shares. The stock had previously closed at $2.57.

Specifically, insider Hong Gan sold 150,000 shares of SES AI stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $2.50, for a total transaction of $375,000.00. Following the completion of the sale, the insider directly owned 1,253,286 shares of the company’s stock, valued at approximately $3,133,215. The trade was a 10.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hong Gan sold 100,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $2.50, for a total value of $250,000.00. Following the sale, the insider owned 1,253,286 shares in the company, valued at $3,133,215. The trade was a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

SES has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SES AI in a report on Wednesday. Cantor Fitzgerald increased their price target on shares of SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of SES AI from a “sell” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

SES AI Stock Performance

The firm has a 50-day moving average of $2.03 and a 200-day moving average of $1.80. The firm has a market capitalization of $874.35 million, a P/E ratio of -8.55 and a beta of 0.57.

SES AI (NYSE:SES) last released 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 net margin of 490.03% and a negative return on equity of 35.31%. The company had revenue of $7.12 million for the quarter, compared to analysts’ expectations of $4.58 million. Equities analysts anticipate that SES AI Corporation will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On SES AI

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of SES AI by 21.1% in the third quarter. Vanguard Group Inc. now owns 11,083,010 shares of the company’s stock valued at $18,509,000 after acquiring an additional 1,927,945 shares during the period. Two Sigma Investments LP increased its holdings in SES AI by 183.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,891,079 shares of the company’s stock valued at $3,158,000 after purchasing an additional 1,223,673 shares during the period. AQR Capital Management LLC raised its position in SES AI by 2,314.7% during the 1st quarter. AQR Capital Management LLC now owns 1,138,003 shares of the company’s stock valued at $593,000 after purchasing an additional 1,090,875 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in SES AI in the 2nd quarter worth approximately $689,000. Finally, XTX Topco Ltd purchased a new stake in SES AI in the 2nd quarter worth approximately $676,000. Institutional investors own 29.78% of the company’s stock.

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.