SES AI (NYSE:SES) Stock Price Up 1.6% – What’s Next?

Shares of SES AI Corporation (NYSE:SES) traded up 1.6% during trading on Wednesday . The company traded as high as $0.83 and last traded at $0.8210. Approximately 22,967,750 shares traded hands during trading, an increase of 136% from the average session volume of 9,733,694 shares. The stock had previously closed at $0.8084.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SES. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a report on Monday, April 20th. Wall Street Zen raised SES AI from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.40 price target on shares of SES AI in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

SES AI Price Performance

The company has a market cap of $301.00 million, a PE ratio of -3.73 and a beta of 0.95. The firm has a 50-day simple moving average of $1.07 and a two-hundred day simple moving average of $1.42.

SES AI (NYSE:SES) last issued its quarterly earnings data on Thursday, April 23rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $6.71 million during the quarter, compared to analysts’ expectations of $3.65 million. SES AI had a negative net margin of 331.72% and a negative return on equity of 28.65%. Equities research analysts forecast that SES AI Corporation will post -0.17 EPS for the current year.

Insider Transactions at SES AI

In other SES AI news, insider Kyle Pilkington sold 25,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1.20, for a total value of $30,000.00. Following the transaction, the insider directly owned 1,023,548 shares in the company, valued at approximately $1,228,257.60. This represents a 2.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On SES AI

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of SES AI by 21.1% during the third quarter. Vanguard Group Inc. now owns 11,083,010 shares of the company’s stock valued at $18,509,000 after buying an additional 1,927,945 shares during the period. Invesco Ltd. grew its stake in SES AI by 563.9% in the 4th quarter. Invesco Ltd. now owns 6,814,389 shares of the company’s stock worth $12,266,000 after acquiring an additional 5,788,018 shares during the period. Renaissance Technologies LLC grew its stake in SES AI by 57.2% in the 1st quarter. Renaissance Technologies LLC now owns 4,596,252 shares of the company’s stock worth $4,422,000 after acquiring an additional 1,671,610 shares during the period. Geode Capital Management LLC raised its holdings in SES AI by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,081,249 shares of the company’s stock valued at $5,549,000 after acquiring an additional 88,548 shares during the last quarter. Finally, State Street Corp raised its holdings in SES AI by 150.2% in the 4th quarter. State Street Corp now owns 2,886,991 shares of the company’s stock valued at $5,197,000 after acquiring an additional 1,733,209 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.