SES AI (NYSE:SES) Shares Up 0.2% – Still a Buy?

Shares of SES AI Corporation (NYSE:SES) were up 0.2% during trading on Tuesday . The company traded as high as $0.53 and last traded at $0.5207. 9,053,001 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 12,754,010 shares. The stock had previously closed at $0.5197.

Wall Street Analyst Weigh In

SES has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $1.10 price objective on shares of SES AI in a research report on Wednesday, August 12th. Weiss Ratings raised shares of SES AI from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of SES AI from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, SES AI has an average rating of “Hold” and a consensus target price of $2.55.

SES AI Stock Up 0.2%

The business has a fifty day simple moving average of $0.65 and a two-hundred day simple moving average of $1.01. The company has a market cap of $193.33 million, a P/E ratio of -2.60 and a beta of 1.00.

SES AI (NYSE:SES) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). SES AI had a negative return on equity of 26.21% and a negative net margin of 289.64%.The business had revenue of $5.07 million during the quarter, compared to the consensus estimate of $5.60 million. On average, equities analysts predict that SES AI Corporation will post -0.16 EPS for the current fiscal year.

Institutional Trading of SES AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. bought a new position in SES AI in the first quarter worth approximately $26,000. Bank of America Corp DE grew its position in shares of SES AI by 114.7% during the 1st quarter. Bank of America Corp DE now owns 610,399 shares of the company’s stock valued at $587,000 after acquiring an additional 326,033 shares during the period. SummitTX Capital L.P. bought a new stake in shares of SES AI during the 1st quarter valued at $33,000. Renaissance Technologies LLC increased its stake in shares of SES AI by 57.2% in the 1st quarter. Renaissance Technologies LLC now owns 4,596,252 shares of the company’s stock worth $4,422,000 after purchasing an additional 1,671,610 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of SES AI in the 1st quarter worth $26,000. 29.78% of the stock is 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.