SES AI (NYSE:SES) Trading Down 11.4% – Here’s What Happened

SES AI Co. (NYSE:SES) shares dropped 11.4% during mid-day 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 trading, an increase of 118% from the average daily volume of 3,326,584 shares. The stock had previously closed at $2.19.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reissued 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 Stock Up 18.4 %

The firm has a 50 day moving average price of $0.64 and a two-hundred day moving average price of $0.86. The company 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 posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same period in the prior year, the firm posted ($0.04) earnings per share. Analysts predict that SES AI Co. will post -0.23 earnings per share for the current year.

Insider Activity at SES AI

In related news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm’s 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 transaction, the insider now directly owns 9,843,622 shares in the company, valued at $1,968,724.40. This trade represents a 57.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Sk Inc. sold 400,000 shares of SES AI stock in a transaction on Friday, October 11th. The stock was sold at an average price of $0.61, for a total transaction of $244,000.00. Following the completion of the transaction, the insider now directly owns 39,927,701 shares of the company’s stock, valued at approximately $24,355,897.61. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,766,910 shares of company stock valued at $3,602,346 over the last ninety days. Corporate insiders own 15.07% of the company’s stock.

Institutional Trading of SES AI

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of SES AI during the 3rd quarter valued at about $28,000. SG Americas Securities LLC boosted its stake in SES AI by 91.6% in the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after acquiring an additional 31,832 shares during the period. DRW Securities LLC acquired a new position in SES AI in the third quarter valued at approximately $52,000. Renaissance Technologies LLC grew its holdings in shares of 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 purchasing an additional 46,800 shares during the last quarter. Finally, Anson Funds Management LP bought a new stake in shares of SES AI in the 3rd quarter worth approximately $108,000. 29.78% of the stock is 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.