Insider Selling: SES AI Co. (NYSE:SES) Major Shareholder Sells $244,000.00 in Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $0.61, for a total value of $244,000.00. Following the completion of the sale, the insider now directly owns 39,927,701 shares in the company, valued at approximately $24,355,897.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Sk Inc. also recently made the following trade(s):

• On Monday, October 14th, Sk Inc. sold 400,000 shares of SES AI stock. The shares were sold at an average price of $0.62, for a total value of $248,000.00.
• On Wednesday, October 9th, Sk Inc. sold 2,481 shares of SES AI stock. The stock was sold at an average price of $0.60, for a total value of $1,488.60.
• On Monday, October 7th, Sk Inc. sold 82,429 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total value of $49,457.40.
• On Friday, October 4th, Sk Inc. sold 100,000 shares of SES AI stock. The stock was sold at an average price of $0.61, for a total transaction of $61,000.00.
• On Wednesday, October 2nd, Sk Inc. sold 243,951 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total transaction of $146,370.60.
• On Monday, September 30th, Sk Inc. sold 71,176 shares of SES AI stock. The stock was sold at an average price of $0.70, for a total transaction of $49,823.20.

SES AI Trading Down 6.6 %

Shares of NYSE:SES opened at $0.57 on Friday. The company has a market cap of $204.03 million, a PE ratio of -3.57 and a beta of 2.39. The company’s 50 day moving average is $0.86 and its two-hundred day moving average is $1.14. SES AI Co. has a 52 week low of $0.55 and a 52 week high of $2.57.

SES AI (NYSE:SES) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). During the same quarter in the prior year, the business posted ($0.04) earnings per share. As a group, equities research analysts expect that SES AI Co. will post -0.23 EPS for the current year.

Institutional Investors Weigh In On SES AI

Several large investors have recently modified their holdings of SES. SG Americas Securities LLC raised its holdings in shares of SES AI by 91.6% in the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after buying an additional 31,832 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of SES AI by 62.8% during the second quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after buying an additional 46,800 shares during the last quarter. EntryPoint Capital LLC acquired a new position in SES AI in the 1st quarter valued at about $88,000. Bank of New York Mellon Corp raised its stake in SES AI by 20.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock valued at $535,000 after acquiring an additional 71,794 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in SES AI by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after acquiring an additional 82,245 shares during the period. 29.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wolfe Research started coverage on SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 price target on shares of SES AI in a report on Tuesday, September 10th.

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.