SES AI (NYSE:SES) Announces Earnings Results

SES AI (NYSE:SES) released its quarterly earnings data on Thursday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04), Zacks reports. During the same quarter last year, the firm earned ($0.04) EPS.

SES AI Trading Down 4.6 %

SES traded down $0.02 during midday trading on Friday, hitting $0.45. 3,090,112 shares of the company traded hands, compared to its average volume of 2,634,060. The business has a 50 day simple moving average of $0.77 and a two-hundred day simple moving average of $1.07. SES AI has a 52-week low of $0.43 and a 52-week high of $2.57. The company has a market capitalization of $161.43 million, a price-to-earnings ratio of -1.96 and a beta of 2.43.

Analyst Upgrades and Downgrades

SES has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 target price on shares of SES AI in a report on Tuesday, September 10th. Wolfe Research started coverage on shares of SES AI in a report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 target price on the stock.

Insider Transactions at SES AI

In other SES AI news, major shareholder Sk Inc. sold 243,951 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $0.60, for a total value of $146,370.60. Following the sale, the insider now owns 40,784,454 shares of the company’s stock, valued at $24,470,672.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Sk Inc. sold 243,951 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $0.60, for a total transaction of $146,370.60. Following the transaction, the insider now directly owns 40,784,454 shares of the company’s stock, valued at $24,470,672.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jing Nealis sold 32,487 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $1.02, for a total transaction of $33,136.74. Following the transaction, the chief financial officer now directly owns 1,979,422 shares in the company, valued at $2,019,010.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,273,348 shares of company stock worth $2,450,737 in the last ninety days. Insiders own 15.07% 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.