SES AI Co. (NYSE:SES) Major Shareholder Sells $49,823.20 in Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 71,176 shares of SES AI stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $0.70, for a total transaction of $49,823.20. Following the completion of the sale, the insider now directly owns 41,936,583 shares in the company, valued at approximately $29,355,608.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

SES AI Price Performance

Shares of SES opened at $0.60 on Thursday. SES AI Co. has a 52-week low of $0.57 and a 52-week high of $2.66. The company has a 50-day simple moving average of $0.98 and a 200-day simple moving average of $1.22. The company has a market capitalization of $212.81 million, a PE ratio of -3.73 and a beta of 2.43.

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

Hedge Funds Weigh In On SES AI

Several hedge funds have recently bought and sold shares of SES. Vanguard Group Inc. grew its holdings in SES AI by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after purchasing an additional 82,245 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of SES AI by 20.2% in the 2nd 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. 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 valued at $309,000 after acquiring an additional 225,299 shares during the last quarter. Renaissance Technologies LLC raised its position in 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 acquiring an additional 46,800 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of SES AI in the first quarter valued at approximately $88,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SES. Wolfe Research assumed coverage on shares of SES AI in a research report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price target on shares of SES AI in a 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.