SES AI (NYSE:SES) Shares Gap Up – Time to Buy?

SES AI Co. (NYSE:SES)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $0.71, but opened at $1.02. SES AI shares last traded at $1.56, with a volume of 70,695,989 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on SES shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 price objective on shares of SES AI in a report on Tuesday, September 10th. Wolfe Research started coverage on SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price target on the stock.

SES AI Stock Performance

The firm has a market capitalization of $526.45 million, a P/E ratio of -6.35 and a beta of 2.27. The business has a 50 day simple moving average of $0.44 and a two-hundred day simple moving average of $0.82.

SES AI (NYSE:SES) last announced its quarterly earnings data 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 company posted ($0.04) earnings per share. On average, equities analysts anticipate that SES AI Co. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SES AI news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the completion of the transaction, the insider now owns 9,843,622 shares in the company, valued at $1,968,724.40. The trade was a 57.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sk Inc. sold 243,951 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $0.60, for a total value of $146,370.60. Following the completion of the sale, the insider now owns 40,784,454 shares in the company, valued at approximately $24,470,672.40. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,032,037 shares of company stock valued at $3,706,540. 15.07% of the stock is owned by insiders.

Institutional Trading of SES AI

Several institutional investors and hedge funds have recently made changes to their positions in SES. Bank of New York Mellon Corp raised its holdings in SES AI by 20.2% in the second quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock worth $535,000 after purchasing an additional 71,794 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in SES AI by 62.8% during the second 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. 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 worth $309,000 after buying an additional 225,299 shares during the last quarter. SG Americas Securities LLC raised its position in shares of 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 buying an additional 31,832 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in SES AI by 4.2% in the third 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. 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.