Hong Gan Sells 100,000 Shares of SES AI (NYSE:SES) Stock

SES AI Corporation (NYSE:SES) insider Hong Gan sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $2.50, for a total value of $250,000.00. Following the completion of the sale, the insider directly owned 1,253,286 shares of the company’s stock, valued at $3,133,215. This represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hong Gan also recently made the following trade(s):

• On Thursday, January 22nd, Hong Gan sold 150,000 shares of SES AI stock. The stock was sold at an average price of $2.50, for a total value of $375,000.00.
• On Monday, December 15th, Hong Gan sold 100,000 shares of SES AI stock. The stock was sold at an average price of $1.98, for a total transaction of $198,000.00.
• On Monday, November 17th, Hong Gan sold 150,000 shares of SES AI stock. The stock was sold at an average price of $1.90, for a total transaction of $285,000.00.

SES AI Stock Down 6.8%

Shares of SES opened at $2.40 on Friday. The company has a market capitalization of $874.35 million, a PE ratio of -8.55 and a beta of 0.57. SES AI Corporation has a 52-week low of $0.38 and a 52-week high of $3.73. The company has a 50-day simple moving average of $2.03 and a 200-day simple moving average of $1.80.

SES AI (NYSE:SES) last issued its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The company had revenue of $7.12 million for the quarter, compared to analyst estimates of $4.58 million. On average, research analysts anticipate that SES AI Corporation will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

SES has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their target price on SES AI from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SES AI in a research report on Wednesday. Finally, Wall Street Zen raised shares of SES AI from a “sell” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

Institutional Trading of SES AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in SES AI during the second quarter worth approximately $676,000. Franklin Resources Inc. acquired a new position in SES AI in the 2nd quarter valued at $543,000. Farther Finance Advisors LLC purchased a new position in shares of SES AI during the 2nd quarter worth $125,000. Callan Family Office LLC acquired a new stake in shares of SES AI during the second quarter worth $38,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of SES AI in the second quarter valued at $41,000. Hedge funds and other institutional investors own 29.78% of the company’s stock.

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.