SES AI (NYSE:SES) Shares Gap Down After Insider Selling

SES AI Co. (NYSE:SES) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $2.39, but opened at $2.28. SES AI shares last traded at $2.12, with a volume of 21,459,235 shares.

Specifically, CFO Jing Nealis sold 150,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $1.02, for a total transaction of $153,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,935,322 shares in the company, valued at approximately $1,974,028.44. This trade represents a 7.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SES. Wolfe Research started 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 set a $1.50 price target on shares of SES AI in a research report on Tuesday, September 10th.

SES AI Stock Performance

The firm’s fifty day simple moving average is $0.49 and its 200 day simple moving average is $0.82. The firm has a market cap of $762.64 million, a P/E ratio of -9.20 and a beta of 2.27.

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 analysts’ consensus estimates of ($0.05) by ($0.04). During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, equities research analysts predict that SES AI Co. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in SES AI by 91.6% during the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after purchasing an additional 31,832 shares in the last quarter. XTX Topco Ltd bought a new position in SES AI during the 3rd quarter worth about $28,000. Charles Schwab Investment Management Inc. increased its position in SES AI by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock valued at $744,000 after purchasing an additional 46,778 shares during the period. Renaissance Technologies LLC raised its holdings in shares of SES AI by 62.8% in the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock valued at $152,000 after purchasing an additional 46,800 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in 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 valued at $535,000 after buying an additional 71,794 shares during the period. 29.78% of the stock is currently owned by institutional investors.

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.