SES AI (NYSE:SES) Trading Down 10.3% – Here’s What Happened

Shares of SES AI Co. (NYSE:SES) dropped 10.3% during mid-day trading on Friday . The stock traded as low as $1.37 and last traded at $1.39. Approximately 4,249,570 shares changed hands during trading, a decline of 84% from the average daily volume of 26,826,375 shares. The stock had previously closed at $1.55.

SES AI Stock Down 14.9 %

The stock has a market capitalization of $475.83 million, a P/E ratio of -5.74 and a beta of 0.37. The company has a 50 day moving average of $0.74 and a 200-day moving average of $0.88.

SES AI (NYSE:SES) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same quarter last year, the business earned ($0.04) EPS. Equities analysts forecast that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other SES AI news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of SES AI stock in a transaction on Friday, November 15th. The stock was sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jing Nealis sold 150,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total value of $153,000.00. Following the transaction, the chief financial officer now directly owns 1,935,322 shares in the company, valued at $1,974,028.44. This trade represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,282,000 shares of company stock valued at $3,307,400. Insiders own 15.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in SES AI by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after acquiring an additional 83,607 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in SES AI by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock worth $744,000 after buying an additional 46,778 shares in the last quarter. Bank of New York Mellon Corp grew its position in 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 worth $535,000 after buying an additional 71,794 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of SES AI by 1,039.9% in the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock valued at $309,000 after buying an additional 225,299 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of SES AI by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock valued at $117,000 after acquiring an additional 122,803 shares during the last quarter. Institutional investors and hedge funds own 29.78% of the company’s stock.

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.