SES AI (NYSE:SES) Stock Price Down 11.4% – Should You Sell?

SES AI Co. (NYSE:SES)’s stock price was down 11.4% during trading on Thursday . The company traded as low as $1.84 and last traded at $1.94. Approximately 7,247,508 shares changed hands during mid-day trading, an increase of 118% from the average daily volume of 3,326,584 shares. The stock had previously closed at $2.19.

Wall Street Analysts Forecast Growth

Separately, 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.

SES AI Trading Up 18.4 %

The stock’s 50 day moving average price is $0.64 and its two-hundred day moving average price is $0.86. The firm has a market capitalization of $811.32 million, a price-to-earnings ratio of -9.78 and a beta of 2.27.

SES AI (NYSE:SES) last issued its 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 quarter in the prior year, the firm earned ($0.04) EPS. On average, sell-side analysts forecast that SES AI Co. will post -0.23 earnings per share for the current fiscal year.

Insider Activity at SES AI

In other news, major shareholder Sk Inc. sold 82,429 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $0.60, for a total value of $49,457.40. Following the completion of the transaction, the insider now directly owns 40,601,438 shares of the company’s stock, valued at $24,360,862.80. The trade was a 0.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jing Nealis sold 150,000 shares of SES AI stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $1.02, for a total value of $153,000.00. Following the sale, the chief financial officer now owns 1,935,322 shares of the company’s stock, valued at approximately $1,974,028.44. This represents a 7.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,766,910 shares of company stock valued at $3,602,346. Insiders own 15.07% of the company’s stock.

Hedge Funds Weigh In On SES AI

Several institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of SES AI in the 3rd quarter valued at $28,000. SG Americas Securities LLC raised its position in shares of SES AI by 91.6% in the 3rd 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 during the period. DRW Securities LLC acquired a new position in SES AI in the third quarter valued at $52,000. Renaissance Technologies LLC grew its position 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 acquiring an additional 46,800 shares during the period. Finally, Anson Funds Management LP acquired a new stake in SES AI during the third quarter worth about $108,000. 29.78% of the stock is currently owned by institutional investors and hedge funds.

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.