Sk Inc. Sells 71,176 Shares of SES AI Co. (NYSE:SES) Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 71,176 shares of SES AI stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $0.70, for a total transaction of $49,823.20. Following the transaction, the insider now directly owns 41,936,583 shares in the company, valued at approximately $29,355,608.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

SES AI Price Performance

NYSE:SES traded down $0.00 during midday trading on Wednesday, hitting $0.60. The company’s stock had a trading volume of 2,506,859 shares, compared to its average volume of 1,070,572. SES AI Co. has a fifty-two week low of $0.57 and a fifty-two week high of $2.66. The firm’s 50 day moving average is $0.98 and its 200-day moving average is $1.22. The firm has a market cap of $212.81 million, a P/E ratio of -3.73 and a beta of 2.43.

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

Analyst Ratings Changes

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

Institutional Trading of SES AI

A number of hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in SES AI in the 1st quarter worth $88,000. Renaissance Technologies LLC raised its stake in SES AI by 62.8% in the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock valued at $152,000 after purchasing an additional 46,800 shares during the last quarter. Squarepoint Ops LLC boosted its stake 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 during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of SES AI by 20.2% during the second quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock worth $535,000 after buying an additional 71,794 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of SES AI by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after buying an additional 82,245 shares in the last quarter. 29.78% of the stock is owned by hedge funds and other institutional investors.

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.