SES AI Co. (NYSE:SES – Get Free Report) shares dropped 6.1% on Tuesday . The company traded as low as $1.60 and last traded at $1.62. Approximately 141,875 shares changed hands during trading, a decline of 75% from the average daily volume of 567,747 shares. The stock had previously closed at $1.72.
Analyst Ratings Changes
Separately, William Blair initiated coverage on shares of SES AI in a research report on Monday, December 18th. They set a “market perform” rating for the company.
View Our Latest Stock Report on SES
SES AI Stock Performance
SES AI (NYSE:SES – Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Equities research analysts anticipate that SES AI Co. will post -0.24 EPS for the current year.
Insider Activity
In related news, insider Hong Gan sold 25,000 shares of SES AI stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $1.69, for a total value of $42,250.00. Following the completion of the transaction, the insider now owns 875,001 shares in the company, valued at $1,478,751.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 75,000 shares of company stock valued at $116,750. 15.39% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of SES AI during the 1st quarter worth approximately $150,000. Bank of New York Mellon Corp purchased a new stake in shares of SES AI during the 1st quarter worth approximately $354,000. Citigroup Inc. purchased a new stake in shares of SES AI during the 1st quarter worth approximately $73,000. BlackRock Inc. purchased a new stake in shares of SES AI during the 1st quarter worth approximately $12,406,000. Finally, Vanguard Group Inc. purchased a new stake in shares of SES AI during the 1st quarter worth approximately $10,785,000. Hedge funds and other institutional investors 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.
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