SES AI (NYSE:SES) Shares Gap Down After Insider Selling

SES AI Co. (NYSE:SES) shares gapped down prior to trading 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 trading hands.

Specifically, CFO Jing Nealis sold 150,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total transaction of $153,000.00. Following the transaction, the chief financial officer now directly owns 1,935,322 shares of the company’s stock, valued at approximately $1,974,028.44. This trade represents a 7.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Ratings Changes

SES has been the subject of several recent research reports. 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $1.50 target price on shares of SES AI in a research note on Tuesday, September 10th.

SES AI Trading Down 9.5 %

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

SES AI (NYSE:SES) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period last year, the business posted ($0.04) EPS. As a group, sell-side analysts forecast that SES AI Co. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On SES AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in SES. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 83,607 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 46,778 shares during the period. Bank of New York Mellon Corp boosted its position in shares of SES AI by 20.2% during the 2nd 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. Squarepoint Ops LLC grew its stake in shares of SES AI by 1,039.9% during the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after purchasing an additional 225,299 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of SES AI by 204.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock valued at $117,000 after purchasing an additional 122,803 shares in the last quarter. Institutional investors and hedge funds own 29.78% of the company’s stock.

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.