SES AI (NYSE:SES) Shares Gap Up – Should You Buy?

SES AI Corporation (NYSE:SES)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $2.36, but opened at $2.48. SES AI shares last traded at $2.5440, with a volume of 4,522,438 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SES shares. Cantor Fitzgerald lifted their target price on SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SES AI in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.00.

SES AI Trading Up 9.5%

The firm’s fifty day moving average is $2.01 and its 200 day moving average is $1.78. The company has a market cap of $943.71 million, a PE ratio of -9.23 and a beta of 0.57.

SES AI (NYSE:SES) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The firm had revenue of $7.12 million during the quarter, compared to analyst estimates of $4.58 million. As a group, sell-side analysts anticipate that SES AI Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at SES AI

In other news, insider Hong Gan sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $1.98, for a total value of $198,000.00. Following the transaction, the insider directly owned 1,253,286 shares of the company’s stock, valued at approximately $2,481,506.28. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On SES AI

Several hedge funds and other institutional investors have recently bought and sold shares of SES. Vanguard Group Inc. boosted its holdings in SES AI by 21.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,083,010 shares of the company’s stock valued at $18,509,000 after purchasing an additional 1,927,945 shares during the last quarter. Two Sigma Investments LP raised its position in shares of SES AI by 183.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,891,079 shares of the company’s stock valued at $3,158,000 after buying an additional 1,223,673 shares during the period. AQR Capital Management LLC raised its position in shares of SES AI by 2,314.7% during the 1st quarter. AQR Capital Management LLC now owns 1,138,003 shares of the company’s stock valued at $593,000 after buying an additional 1,090,875 shares during the period. Invesco Ltd. lifted its holdings in SES AI by 3.1% in the second quarter. Invesco Ltd. now owns 920,259 shares of the company’s stock valued at $817,000 after acquiring an additional 27,765 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new position in SES AI in the second quarter worth approximately $689,000. 29.78% of the stock is currently owned by institutional investors and hedge funds.

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.