SES AI (NYSE:SES) Posts Earnings Results, Beats Expectations By $0.02 EPS

SES AI (NYSE:SES) posted its quarterly earnings data on Wednesday. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02, FiscalAI reports. The company had revenue of $4.56 million during the quarter, compared to analysts’ expectations of $6.64 million. SES AI had a negative net margin of 490.03% and a negative return on equity of 35.31%.

SES AI Trading Up 8.4%

NYSE:SES traded up $0.13 during mid-day trading on Wednesday, hitting $1.68. The stock had a trading volume of 20,959,188 shares, compared to its average volume of 7,331,340. The company has a market capitalization of $613.32 million, a PE ratio of -6.00 and a beta of 0.62. The stock has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $1.95. SES AI has a twelve month low of $0.38 and a twelve month high of $3.73.

Analyst Ratings Changes

SES has been the topic of several research reports. Wall Street Zen downgraded SES AI from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Cantor Fitzgerald lifted their price target on shares of SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.00.

Insider Activity

In other news, insider Hong Gan sold 150,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $2.50, for a total transaction of $375,000.00. Following the completion of the transaction, the insider directly owned 1,253,286 shares of the company’s stock, valued at approximately $3,133,215. This represents a 10.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 350,000 shares of company stock worth $823,000. Corporate insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC increased its position in shares of SES AI by 381.3% during the fourth quarter. Virtu Financial LLC now owns 159,360 shares of the company’s stock worth $287,000 after purchasing an additional 126,248 shares in the last quarter. Invesco Ltd. boosted its holdings in SES AI by 563.9% in the 4th quarter. Invesco Ltd. now owns 6,814,389 shares of the company’s stock valued at $12,266,000 after purchasing an additional 5,788,018 shares in the last quarter. Janus Henderson Group PLC acquired a new position in SES AI during the fourth quarter worth $220,000. Balyasny Asset Management L.P. purchased a new position in shares of SES AI in the 4th quarter valued at about $144,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of SES AI during the 4th quarter valued at approximately $121,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

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.