SES AI (NYSE:SES) Reaches New 52-Week High – Time to Buy?

Shares of SES AI Co. (NYSE:SES) reached a new 52-week high during trading on Friday . The company traded as high as $2.44 and last traded at $2.44, with a volume of 34017000 shares. The stock had previously closed at $1.42.

Wall Street Analyst Weigh In

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

SES AI Stock Performance

The firm has a market capitalization of $872.65 million, a PE ratio of -10.52 and a beta of 2.27. The firm’s 50-day moving average is $0.45 and its 200 day moving average is $0.82.

SES AI (NYSE:SES) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same quarter in the prior year, the firm earned ($0.04) EPS. As a group, equities analysts anticipate that SES AI Co. will post -0.23 earnings per share for the current year.

Insider Activity at SES AI

In other SES AI news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $0.20, for a total value of $2,666,400.00. Following the transaction, the insider now directly owns 9,843,622 shares in the company, valued at approximately $1,968,724.40. This represents a 57.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sk Inc. sold 400,000 shares of SES AI stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $0.60, for a total transaction of $240,000.00. Following the sale, the insider now owns 38,762,803 shares of the company’s stock, valued at approximately $23,257,681.80. This trade represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,032,037 shares of company stock valued at $3,706,540. 15.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SES. XTX Topco Ltd acquired a new position in SES AI in the third quarter valued at $28,000. SG Americas Securities LLC increased its stake in shares of SES AI by 91.6% during the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after acquiring an additional 31,832 shares during the last quarter. DRW Securities LLC purchased a new position in shares of SES AI during the 3rd quarter worth about $52,000. Renaissance Technologies LLC boosted its position in shares of SES AI by 62.8% in the second quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after acquiring an additional 46,800 shares during the last quarter. Finally, Anson Funds Management LP acquired a new stake in shares of SES AI in the third quarter worth approximately $108,000. Hedge funds and other institutional investors own 29.78% 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.