SES AI Corporation (NYSE:SES) Sees Significant Decrease in Short Interest

SES AI Corporation (NYSE:SES) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 12,035,666 shares, a decline of 15.6% from the February 26th total of 14,261,090 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average daily volume of 15,704,034 shares, the days-to-cover ratio is currently 0.8 days.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SES AI in a research report on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of SES AI in a research note on Thursday, March 5th. Finally, Wall Street Zen cut SES AI from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SES AI currently has an average rating of “Hold” and an average target price of $4.00.

Insider Buying and Selling

In other news, insider Kyle Pilkington sold 25,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $1.20, for a total value of $30,000.00. Following the completion of the sale, the insider directly owned 780,203 shares in the company, valued at approximately $936,243.60. The trade was a 3.10% 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 hyperlink. Also, insider Hong Gan sold 100,000 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $2.50, for a total transaction of $250,000.00. Following the sale, the insider directly owned 1,253,286 shares of the company’s stock, valued at approximately $3,133,215. This represents a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 275,000 shares of company stock valued at $655,000 in the last ninety days. Company insiders own 13.80% of the company’s stock.

Institutional Trading of SES AI

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of SES AI by 21.1% during 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. Invesco Ltd. grew its holdings in shares of SES AI by 563.9% in the 4th quarter. Invesco Ltd. now owns 6,814,389 shares of the company’s stock worth $12,266,000 after purchasing an additional 5,788,018 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of SES AI by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,081,249 shares of the company’s stock worth $5,549,000 after purchasing an additional 88,548 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of SES AI by 3,649.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,924,642 shares of the company’s stock worth $5,264,000 after purchasing an additional 2,846,642 shares in the last quarter. Finally, State Street Corp increased its position in shares of SES AI by 150.2% during the 4th quarter. State Street Corp now owns 2,886,991 shares of the company’s stock worth $5,197,000 after purchasing an additional 1,733,209 shares in the last quarter. 29.78% of the stock is currently owned by institutional investors.

SES AI Stock Performance

Shares of SES AI stock opened at $0.92 on Tuesday. The firm has a market cap of $335.46 million, a P/E ratio of -4.16 and a beta of 0.62. The firm’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.95. SES AI has a twelve month low of $0.42 and a twelve month high of $3.73.

SES AI (NYSE:SES) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. SES AI had a negative net margin of 347.81% and a negative return on equity of 28.19%. The firm had revenue of $4.56 million during the quarter, compared to analysts’ expectations of $6.64 million. On average, equities analysts forecast that SES AI will post -0.23 earnings per share for the current fiscal year.

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.