Bank of New York Mellon Corp Buys 71,794 Shares of SES AI Co. (NYSE:SES)

Bank of New York Mellon Corp raised its stake in shares of SES AI Co. (NYSE:SES) by 20.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,944 shares of the company’s stock after purchasing an additional 71,794 shares during the period. Bank of New York Mellon Corp owned 0.12% of SES AI worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 82,245 shares during the period. Institutional investors own 29.78% of the company’s stock.

Insider Buying and Selling

In other SES AI 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 completion of the sale, the chief financial officer now directly owns 1,979,422 shares of the company’s stock, valued at approximately $2,078,393.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Hong Gan sold 25,000 shares of SES AI stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1.17, for a total transaction of $29,250.00. Following the transaction, the insider now directly owns 825,506 shares of the company’s stock, valued at $965,842.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jing Nealis sold 50,000 shares of the company’s 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 sale, the chief financial officer now owns 1,979,422 shares of the company’s stock, valued at approximately $2,078,393.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,598,311 shares of company stock valued at $1,439,847 over the last quarter. 15.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

SES AI Trading Down 11.5 %

NYSE SES opened at $0.67 on Tuesday. The stock has a market cap of $240.30 million, a PE ratio of -4.21 and a beta of 2.43. SES AI Co. has a 12 month low of $0.66 and a 12 month high of $2.66. The company’s 50-day moving average price is $1.05 and its 200-day moving average price is $1.26.

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

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.