SES AI Co. (NYSE:SES) Short Interest Update

SES AI Co. (NYSE:SES) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 4,140,000 shares, a drop of 20.4% from the October 31st total of 5,200,000 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily trading volume, of 3,710,000 shares, the short-interest ratio is currently 1.1 days.

SES AI Stock Performance

Shares of SES stock traded up $0.02 during trading hours on Friday, reaching $0.35. The company had a trading volume of 1,261,169 shares, compared to its average volume of 4,294,037. SES AI has a 12-month low of $0.20 and a 12-month high of $2.44. The company has a market capitalization of $126.20 million, a price-to-earnings ratio of -1.52 and a beta of 2.43. The stock has a fifty day moving average of $0.50 and a 200-day moving average of $0.92.

SES AI (NYSE:SES) last released its quarterly earnings data 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 quarter in the previous year, the business posted ($0.04) earnings per share. On average, analysts forecast that SES AI will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SES shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research started coverage on shares of SES AI in a research report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 target price for the company.

Insider Buying and Selling at SES AI

In related news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of SES AI stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek sold 67,890 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1.02, for a total value of $69,247.80. Following the transaction, the insider now owns 5,398,700 shares in the company, valued at $5,506,674. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,551,072 shares of company stock worth $5,061,174. Insiders own 15.07% of the company’s stock.

Hedge Funds Weigh In On SES AI

Several large investors have recently made changes to their positions in SES. Renaissance Technologies LLC grew its position in SES AI by 62.8% in the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock valued at $152,000 after acquiring an additional 46,800 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $535,000 after purchasing an additional 71,794 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of SES AI by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after acquiring an additional 82,245 shares in the last quarter. Squarepoint Ops LLC raised its position 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. Finally, SG Americas Securities LLC grew its position in shares of 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 buying an additional 31,832 shares in the last quarter. 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.