SES AI (NYSE:SES) Reaches New 1-Year High – Still a Buy?

SES AI Co. (NYSE:SES)’s stock price hit a new 52-week high on Friday . The stock traded as high as $2.44 and last traded at $2.44, with a volume of 34017000 shares. The stock had previously closed at $1.42.

Analysts Set New Price Targets

SES has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research started coverage on SES AI in a report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price objective on the stock.

SES AI Price Performance

The company has a market cap of $872.65 million, a PE ratio of -10.52 and a beta of 2.27. The stock has a 50 day simple moving average of $0.45 and a two-hundred day simple moving average of $0.82.

SES AI (NYSE:SES) last issued its quarterly 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 period in the previous year, the business posted ($0.04) EPS. As a group, equities analysts anticipate that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Transactions at SES AI

In other news, major shareholder Sk Inc. sold 71,176 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $0.70, for a total value of $49,823.20. Following the transaction, the insider now owns 41,936,583 shares of the company’s stock, valued at approximately $29,355,608.10. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $0.20, for a total value of $2,666,400.00. Following the sale, the insider now directly owns 9,843,622 shares of the company’s stock, valued at approximately $1,968,724.40. This represents a 57.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,032,037 shares of company stock worth $3,706,540. Company insiders own 15.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC boosted its holdings 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 purchasing an additional 225,299 shares in the last quarter. Anson Funds Management LP purchased a new stake in shares of SES AI in the third quarter valued at approximately $108,000. Barclays PLC grew its holdings in SES AI by 281.1% during the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock worth $109,000 after acquiring an additional 126,763 shares during the period. JPMorgan Chase & Co. grew its holdings in SES AI by 204.1% during the third quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock worth $117,000 after acquiring an additional 122,803 shares during the period. Finally, Geode Capital Management LLC raised its position 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 worth $1,980,000 after acquiring an additional 83,607 shares in the last quarter. 29.78% of the stock is currently owned by institutional investors and hedge funds.

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.