SES AI (NYSE:SES) Sets New 1-Year High – What’s Next?

SES AI Co. (NYSE:SES) hit a new 52-week high during trading on Monday . The stock traded as high as $2.53 and last traded at $2.37, with a volume of 22460150 shares trading hands. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th.

SES AI Price Performance

The company has a market capitalization of $782.47 million, a PE ratio of -9.43 and a beta of 2.27. The stock has a 50-day simple moving average of $0.64 and a 200 day simple moving average of $0.86.

SES AI (NYSE:SES) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same period last year, the firm posted ($0.04) EPS. As a group, research analysts predict that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at SES AI

In other news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $0.20, for a total value of $2,666,400.00. Following the sale, the insider now directly owns 9,843,622 shares in the company, valued at $1,968,724.40. This represents a 57.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jing Nealis sold 150,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total value of $153,000.00. Following the sale, the chief financial officer now directly owns 1,935,322 shares in the company, valued at approximately $1,974,028.44. The trade was a 7.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,684,481 shares of company stock valued at $3,552,889 over the last quarter. Corporate insiders own 15.07% of the company’s stock.

Hedge Funds Weigh In On SES AI

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC grew its stake in SES AI by 1,039.9% in the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after acquiring an additional 225,299 shares during the period. Anson Funds Management LP purchased a new stake in shares of SES AI in the third quarter valued at $108,000. Barclays PLC grew its position in shares of SES AI by 281.1% in the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after purchasing an additional 126,763 shares during the period. JPMorgan Chase & Co. increased its stake in SES AI by 204.1% in the third quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock valued at $117,000 after purchasing an additional 122,803 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in SES AI by 2.8% during the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock worth $1,980,000 after buying an additional 83,607 shares during the period. Institutional investors and hedge funds 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.