SES AI (NYSE:SES) Shares Gap Down – Here’s What Happened

SES AI Co. (NYSE:SES) shares gapped down prior to trading on Wednesday . The stock had previously closed at $1.75, but opened at $1.52. SES AI shares last traded at $1.57, with a volume of 6,636,267 shares changing hands.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price objective on shares of SES AI in a research note on Tuesday, September 10th.

SES AI Trading Down 4.6 %

The company has a 50 day moving average price of $0.70 and a 200 day moving average price of $0.87. The company has a market capitalization of $602.18 million, a price-to-earnings ratio of -7.26 and a beta of 0.37.

SES AI (NYSE:SES) last released its earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period in the previous year, the business earned ($0.04) EPS. Equities analysts predict that SES AI Co. will post -0.23 earnings per share for the current year.

Insider Activity at SES AI

In other news, major shareholder Sk Inc. sold 400,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $0.61, for a total transaction of $244,000.00. Following the transaction, the insider now directly owns 39,927,701 shares in the company, valued at $24,355,897.61. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jing Nealis sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total value of $153,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,935,322 shares of the company’s stock, valued at approximately $1,974,028.44. The trade was a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,682,000 shares of company stock valued at $3,551,400. 15.07% of the stock is owned by insiders.

Hedge Funds Weigh In On SES AI

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in SES AI in the 3rd quarter valued at $28,000. SG Americas Securities LLC lifted its position in SES AI by 91.6% during the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock worth $43,000 after purchasing an additional 31,832 shares during the period. DRW Securities LLC acquired a new stake in SES AI during the third quarter worth about $52,000. Anson Funds Management LP acquired a new position in shares of SES AI in the 3rd quarter valued at approximately $108,000. Finally, Barclays PLC lifted its holdings in shares of SES AI by 281.1% during the 3rd 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. 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.