SES AI (NYSE:SES) Shares Gap Down – Should You Sell?

Shares of SES AI Corporation (NYSE:SES) gapped down prior to trading on Friday . The stock had previously closed at $1.77, but opened at $1.70. SES AI shares last traded at $1.7550, with a volume of 290,048 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SES AI in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of SES AI from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, 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. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.00.

SES AI Price Performance

The firm has a market cap of $607.84 million, a price-to-earnings ratio of -5.95 and a beta of 0.57. The business’s 50-day moving average price is $2.01 and its two-hundred day moving average price is $1.91.

Insider Buying and Selling at SES AI

In other SES AI news, 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 transaction of $375,000.00. Following the transaction, the insider owned 1,253,286 shares of the company’s stock, valued at $3,133,215. This represents a 10.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 350,000 shares of company stock worth $823,000. Corporate insiders own 13.80% of the company’s stock.

Institutional Trading of SES AI

Several institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in shares of SES AI by 563.9% during the 4th quarter. Invesco Ltd. now owns 6,814,389 shares of the company’s stock worth $12,266,000 after buying an additional 5,788,018 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in SES AI during the fourth quarter valued at about $220,000. Balyasny Asset Management L.P. acquired a new stake in SES AI during the fourth quarter worth about $144,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of SES AI in the 4th quarter worth about $121,000. Finally, Jain Global LLC purchased a new position in shares of SES AI in the 4th quarter worth about $135,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

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.