SES AI (NYSE:SES) Sets New 12-Month High – Still a Buy?

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

Wall Street Analyst Weigh In

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

SES AI Price Performance

The stock has a market capitalization of $861.79 million, a P/E ratio of -10.39 and a beta of 2.27. The stock’s 50-day simple moving average is $0.49 and its 200 day simple moving average is $0.83.

SES AI (NYSE:SES) last posted its earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period in the prior year, the business earned ($0.04) earnings per share. As a group, analysts expect that SES AI Co. will post -0.23 earnings per share for the current fiscal year.

Insider Activity at SES AI

In other SES AI news, CFO Jing Nealis sold 150,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were 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. This trade represents a 7.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the company’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 sale, the insider now directly owns 9,843,622 shares of the company’s stock, valued at approximately $1,968,724.40. This trade represents a 57.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,182,037 shares of company stock worth $3,859,540. Company insiders own 15.07% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of SES AI by 204.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock valued at $117,000 after purchasing an additional 122,803 shares in the last quarter. Barclays PLC lifted its position in shares of SES AI by 281.1% during the 3rd quarter. Barclays PLC now owns 171,860 shares of the company’s stock worth $109,000 after buying an additional 126,763 shares during the last quarter. Geode Capital Management LLC boosted its stake in SES AI by 2.8% in the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after buying an additional 83,607 shares in the last quarter. Anson Funds Management LP acquired a new stake in SES AI in the third quarter valued at about $108,000. Finally, XTX Topco Ltd bought a new position in SES AI in the third quarter valued at about $28,000. 29.78% of the stock is owned by institutional investors.

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.