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 changing hands.

Specifically, CFO Jing Nealis sold 150,000 shares of SES AI stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $1.02, for a total value of $153,000.00. Following the completion of the transaction, the chief financial officer now owns 1,935,322 shares in the company, valued at $1,974,028.44. The trade was a 7.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

SES has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price target on shares of SES AI in a research note on Tuesday, September 10th. Wolfe Research assumed 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.

SES AI Stock Down 9.5 %

The firm has a market capitalization of $789.68 million, a price-to-earnings ratio of -9.52 and a beta of 2.27. The stock’s 50-day moving average price is $0.52 and its 200 day moving average price is $0.83.

SES AI (NYSE:SES) last announced its quarterly 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 previous year, the business earned ($0.04) EPS. On average, sell-side analysts anticipate that SES AI Co. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On SES AI

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in SES AI by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock worth $117,000 after buying an additional 122,803 shares in the last quarter. Barclays PLC boosted its holdings in shares of SES AI by 281.1% in the 3rd quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after buying an additional 126,763 shares in the last quarter. Geode Capital Management LLC boosted its stake in SES AI by 2.8% in the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after acquiring an additional 83,607 shares in the last quarter. Anson Funds Management LP acquired a new stake in shares of SES AI in the 3rd quarter valued at about $108,000. Finally, XTX Topco Ltd purchased a new position in SES AI during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors 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.