HITE Hedge Asset Management LLC Purchases Shares of 651,883 SES AI Corporation $SES

Key Points

• HITE Hedge Asset Management LLC invested approximately $339,000 in SES AI Corporation, acquiring 651,883 shares, representing about 0.18% of the company.
• SES AI has a market cap of $411.44 million and reported a quarterly revenue of $3.53 million, falling short of analyst estimates.
• Analysts have differing views on SES AI, with Cantor Fitzgerald maintaining an "overweight" rating and a target price of $2.00, while Wall Street Zen downgraded the stock from "hold" to "sell."

HITE Hedge Asset Management LLC bought a new position in SES AI Corporation (NYSE:SES - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 651,883 shares of the company's stock, valued at approximately $339,000. HITE Hedge Asset Management LLC owned 0.18% of SES AI as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SES. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of SES AI in the 1st quarter valued at $1,064,000. Invesco Ltd. grew its stake in SES AI by 1,537.2% in the first quarter. Invesco Ltd. now owns 892,494 shares of the company's stock valued at $465,000 after acquiring an additional 837,982 shares during the period. Nuveen LLC bought a new stake in shares of SES AI in the first quarter worth about $233,000. Two Sigma Investments LP increased its holdings in shares of SES AI by 666.4% in the fourth quarter. Two Sigma Investments LP now owns 513,010 shares of the company's stock worth $1,123,000 after acquiring an additional 446,073 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of SES AI by 202.8% during the fourth quarter. Renaissance Technologies LLC now owns 665,300 shares of the company's stock worth $1,457,000 after purchasing an additional 445,600 shares during the period. 29.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SES has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2.00 price objective on shares of SES AI in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of SES AI from a "hold" rating to a "sell" rating in a research note on Sunday, June 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SES AI has an average rating of "Hold" and a consensus price target of $1.50.

SES AI Price Performance

SES stock traded up $0.0560 during midday trading on Friday, hitting $1.1060. The company's stock had a trading volume of 4,431,959 shares, compared to its average volume of 18,259,561. SES AI Corporation has a twelve month low of $0.20 and a twelve month high of $2.53. The company's fifty day moving average price is $1.03 and its 200 day moving average price is $0.87. The stock has a market capitalization of $404.49 million, a P/E ratio of -3.57 and a beta of 0.42.

SES AI (NYSE:SES - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The firm had revenue of $3.53 million for the quarter, compared to the consensus estimate of $4.33 million. SES AI has set its FY 2025 guidance at EPS. Equities analysts expect that SES AI Corporation will post -0.23 EPS for the current fiscal year.

SES AI 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.