SES AI (NYSE:SES) Issues Earnings Results

SES AI (NYSE:SES) posted its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04), Zacks reports. During the same quarter in the prior year, the company posted ($0.04) earnings per share.

SES AI Trading Down 4.6 %

Shares of SES traded down $0.02 on Friday, reaching $0.45. 3,090,112 shares of the company’s stock traded hands, compared to its average volume of 2,634,060. The stock’s 50 day simple moving average is $0.77 and its two-hundred day simple moving average is $1.07. SES AI has a 52-week low of $0.43 and a 52-week high of $2.57. The stock has a market cap of $161.43 million, a PE ratio of -1.96 and a beta of 2.43.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at SES AI

In other news, CFO Jing Nealis sold 50,000 shares of SES AI stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $1.05, for a total transaction of $52,500.00. Following the sale, the chief financial officer now directly owns 1,979,422 shares in the company, valued at $2,078,393.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SES AI news, major shareholder Sk Inc. sold 400,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $0.60, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now directly owns 38,762,803 shares of the company’s stock, valued at approximately $23,257,681.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jing Nealis sold 50,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $1.05, for a total value of $52,500.00. Following the transaction, the chief financial officer now owns 1,979,422 shares of the company’s stock, valued at $2,078,393.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,273,348 shares of company stock worth $2,450,737 in the last quarter. 15.07% of the stock is currently owned by company insiders.

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.