SES AI (NYSE:SES) Shares Gap Down – What’s Next?

Shares of SES AI Co. (NYSE:SES) gapped down before the market opened on Wednesday . The stock had previously closed at $1.75, but opened at $1.52. SES AI shares last traded at $1.57, with a volume of 6,636,267 shares traded.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price objective on shares of SES AI in a research note on Tuesday, September 10th.

SES AI Stock Performance

The company has a market cap of $602.18 million, a price-to-earnings ratio of -7.26 and a beta of 0.37. The company has a fifty day moving average of $0.70 and a two-hundred day moving average of $0.87.

SES AI (NYSE:SES) last released its quarterly earnings data 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 business earned ($0.04) earnings per share. Equities analysts expect that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jing Nealis sold 150,000 shares of SES AI stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $1.02, for a total value of $153,000.00. Following the transaction, the chief financial officer now directly owns 1,935,322 shares of the company’s stock, valued at $1,974,028.44. The trade was a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the transaction, the insider now owns 9,843,622 shares of the company’s stock, valued at approximately $1,968,724.40. The trade was a 57.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,682,000 shares of company stock valued at $3,551,400. Insiders own 15.07% of the company’s stock.

Hedge Funds Weigh In On SES AI

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of SES AI during the third quarter worth approximately $28,000. SG Americas Securities LLC lifted its position in SES AI by 91.6% in 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 in the last quarter. DRW Securities LLC acquired a new position in SES AI during the 3rd quarter valued at about $52,000. Anson Funds Management LP bought a new stake in SES AI during the 3rd quarter worth approximately $108,000. Finally, Barclays PLC raised its stake in shares of SES AI by 281.1% in the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock worth $109,000 after purchasing an additional 126,763 shares during the last quarter. Institutional investors and hedge funds 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.