SES AI Co. (NYSE:SES) Major Shareholder Sk Inc. Sells 100,000 Shares of Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 100,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $0.61, for a total value of $61,000.00. Following the sale, the insider now directly owns 40,683,867 shares of the company’s stock, valued at $24,817,158.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Sk Inc. also recently made the following trade(s):

• On Monday, October 7th, Sk Inc. sold 82,429 shares of SES AI stock. The stock was sold at an average price of $0.60, for a total value of $49,457.40.
• On Wednesday, October 2nd, Sk Inc. sold 243,951 shares of SES AI stock. The stock was sold at an average price of $0.60, for a total value of $146,370.60.
• On Monday, September 30th, Sk Inc. sold 71,176 shares of SES AI stock. The stock was sold at an average price of $0.70, for a total value of $49,823.20.

SES AI Price Performance

NYSE SES opened at $0.60 on Wednesday. The company has a market cap of $212.60 million, a P/E ratio of -3.72 and a beta of 2.39. The stock has a 50-day moving average of $0.92 and a two-hundred day moving average of $1.19. SES AI Co. has a 1-year low of $0.57 and a 1-year high of $2.66.

SES AI (NYSE:SES) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). During the same period last year, the business earned ($0.04) earnings per share. On average, analysts anticipate that SES AI Co. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On SES AI

A number of institutional investors and hedge funds have recently made changes to their positions in SES. Vanguard Group Inc. grew its position in shares of SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after buying an additional 82,245 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of SES AI during the first quarter worth about $88,000. Bank of New York Mellon Corp grew its position in shares of SES AI by 20.2% during the second 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. Renaissance Technologies LLC grew its position in shares of SES AI by 62.8% during the second quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after buying an additional 46,800 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of SES AI by 1,039.9% during the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after buying an additional 225,299 shares in the last quarter. 29.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on SES. Wolfe Research began coverage on SES AI in a research report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 target price for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th.

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.