SES AI (NYSE:SES) Sees Strong Trading Volume – What’s Next?

Shares of SES AI Co. (NYSE:SES) saw an uptick in trading volume on Tuesday . 7,124,591 shares traded hands during trading, an increase of 120% from the previous session’s volume of 3,233,109 shares.The stock last traded at $2.10 and had previously closed at $2.42.

Wall Street Analysts Forecast Growth

SES has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price target on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research began coverage on shares of SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective for the company.

SES AI Trading Down 9.5 %

The business has a fifty day moving average of $0.58 and a 200-day moving average of $0.85. The firm has a market cap of $789.68 million, a PE ratio of -9.52 and a beta of 2.27.

SES AI (NYSE:SES) last announced 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 in the previous year, the firm earned ($0.04) EPS. On average, equities analysts forecast that SES AI Co. will post -0.23 EPS for the current year.

Insider Activity

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 shares were 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 of the company’s stock, valued at $1,968,724.40. The trade was a 57.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jing Nealis sold 150,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $1.02, for a total transaction of $153,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,935,322 shares in the company, valued at $1,974,028.44. The trade was a 7.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,866,910 shares of company stock worth $3,663,346 in the last three months. Corporate insiders own 15.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in SES AI by 2.8% during the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after purchasing an additional 83,607 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SES AI by 4.2% during the 3rd 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 last quarter. Bank of New York Mellon Corp raised its holdings 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 valued at $535,000 after buying an additional 71,794 shares in the last quarter. Squarepoint Ops LLC lifted 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 worth $309,000 after buying an additional 225,299 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in SES AI by 204.1% in the third quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock worth $117,000 after buying an additional 122,803 shares in the last quarter. 29.78% of the stock is currently owned by hedge funds and other 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.