SES AI Co. (NYSE:SES) Major Shareholder Sells $2,666,400.00 in Stock

SES AI Co. (NYSE:SES) major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the sale, the insider now owns 9,843,622 shares in the company, valued at $1,968,724.40. The trade was a 57.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

SES AI Stock Performance

SES opened at $0.31 on Thursday. The stock has a market capitalization of $111.78 million, a price-to-earnings ratio of -1.35 and a beta of 2.43. The company has a fifty day moving average of $0.59 and a 200 day moving average of $0.97. SES AI Co. has a fifty-two week low of $0.20 and a fifty-two week high of $2.51.

SES AI (NYSE:SES) last posted its earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same quarter in the prior year, the firm earned ($0.04) EPS. On average, equities research analysts forecast that SES AI Co. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On SES AI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of SES AI by 0.7% in the 1st 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. Geode Capital Management LLC grew its stake in shares of SES AI by 2.8% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of SES AI by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock worth $744,000 after buying an additional 46,778 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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. Finally, Squarepoint Ops LLC grew its stake in shares of 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 buying an additional 225,299 shares in the last quarter. 29.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SES. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 price objective on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research began coverage on shares of SES AI in a research note on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price for the company.

About SES AI

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.