SES AI (NYSE:SES) Shares Gap Up to $1.53

Shares of SES AI Co. (NYSE:SES) gapped up before the market opened on Wednesday . The stock had previously closed at $1.53, but opened at $1.58. SES AI shares last traded at $1.51, with a volume of 116,745 shares.

Analyst Ratings Changes

Separately, William Blair initiated coverage on SES AI in a report on Monday, December 18th. They issued a “market perform” rating on the stock.

SES AI Stock Down 2.8 %

The firm has a market capitalization of $496.94 million, a price-to-earnings ratio of -8.75 and a beta of 2.64. The company’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.82.

SES AI (NYSE:SES) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. During the same period last year, the company posted ($0.05) earnings per share. On average, equities research analysts expect that SES AI Co. will post -0.24 EPS for the current year.

Insider Buying and Selling at SES AI

In other news, insider Hong Gan sold 25,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $1.69, for a total transaction of $42,250.00. Following the completion of the transaction, the insider now directly owns 875,001 shares in the company, valued at approximately $1,478,751.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 75,000 shares of company stock valued at $116,750. 15.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SES AI

A number of hedge funds and other institutional investors have recently made changes to their positions in SES. Vanguard Group Inc. raised its stake in SES AI by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 11,748,162 shares of the company’s stock worth $21,499,000 after buying an additional 142,533 shares during the period. BlackRock Inc. lifted its holdings in shares of SES AI by 193.3% during the 2nd quarter. BlackRock Inc. now owns 8,729,851 shares of the company’s stock valued at $21,301,000 after purchasing an additional 5,753,859 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of SES AI by 110.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,636,669 shares of the company’s stock valued at $6,433,000 after purchasing an additional 1,386,462 shares in the last quarter. State Street Corp grew its position in shares of SES AI by 207.9% in the 2nd quarter. State Street Corp now owns 2,620,514 shares of the company’s stock valued at $6,394,000 after purchasing an additional 1,769,509 shares during the period. Finally, Invesco Ltd. bought a new stake in SES AI during the 1st quarter worth approximately $18,817,000. 29.78% of the stock is owned by 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.