Short Interest in SES AI Co. (NYSE:SES) Drops By 20.4%

SES AI Co. (NYSE:SES) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 4,140,000 shares, a drop of 20.4% from the October 31st total of 5,200,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 3,710,000 shares, the days-to-cover ratio is currently 1.1 days.

SES AI Stock Performance

SES stock traded up $0.02 during midday trading on Friday, hitting $0.35. 1,261,169 shares of the stock were exchanged, compared to its average volume of 4,294,037. The stock’s 50-day moving average price is $0.50 and its 200-day moving average price is $0.92. The stock has a market cap of $126.20 million, a price-to-earnings ratio of -1.52 and a beta of 2.43. SES AI has a fifty-two week low of $0.20 and a fifty-two week high of $2.44.

SES AI (NYSE:SES) last released its quarterly earnings results 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 last year, the business earned ($0.04) earnings per share. Research analysts anticipate that SES AI will post -0.29 EPS for the current 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 that occurred on Friday, November 15th. The stock was sold at an average price of $0.20, for a total value of $2,666,400.00. Following the sale, the insider now owns 9,843,622 shares of the company’s stock, valued at approximately $1,968,724.40. The trade was a 57.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jing Nealis sold 32,487 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1.02, for a total value of $33,136.74. Following the transaction, the chief financial officer now directly owns 1,979,422 shares of the company’s stock, valued at approximately $2,019,010.44. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,551,072 shares of company stock valued at $5,061,174 over the last three months. 15.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SES AI

A number of institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in SES AI during the 3rd quarter worth about $28,000. SG Americas Securities LLC lifted its holdings in SES AI by 91.6% in the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after purchasing an additional 31,832 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of SES AI during the 3rd quarter worth about $52,000. Anson Funds Management LP purchased a new stake in shares of SES AI during the third quarter worth about $108,000. Finally, Barclays PLC raised its position in shares of SES AI by 281.1% in the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after buying an additional 126,763 shares during the last quarter. 29.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th.

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.