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 SES AI stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $0.61, for a total transaction of $244,000.00. Following the sale, the insider now owns 39,927,701 shares of the company’s stock, valued at approximately $24,355,897.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 transaction of $248,000.00.
• On Wednesday, October 9th, Sk Inc. sold 2,481 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total transaction 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 transaction of $49,457.40.
• On Friday, October 4th, Sk Inc. sold 100,000 shares of SES AI stock. The shares were 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 shares were sold at an average price of $0.70, for a total transaction of $49,823.20.

SES AI Stock Up 2.3 %

NYSE:SES opened at $0.61 on Thursday. SES AI Co. has a fifty-two week low of $0.55 and a fifty-two week high of $2.57. The firm’s fifty day simple moving average is $0.86 and its 200-day simple moving average is $1.15. The stock has a market cap of $217.88 million, a PE ratio of -3.81 and a beta of 2.39.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings 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 worth $43,000 after acquiring an additional 31,832 shares during the period. Squarepoint Ops LLC increased its position in SES AI by 1,039.9% during the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after purchasing an additional 225,299 shares in the last quarter. Renaissance Technologies LLC increased its position in SES AI by 62.8% during the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after purchasing an additional 46,800 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 worth $535,000 after purchasing an additional 71,794 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in SES AI in the first quarter valued at approximately $88,000. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.