HITE Hedge Asset Management LLC Invests $339,000 in 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 acquired a new position in shares of SES AI Corporation (NYSE:SES - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 651,883 shares of the company's stock, valued at approximately $339,000. HITE Hedge Asset Management LLC owned about 0.18% of SES AI at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in SES AI in the first quarter valued at about $233,000. Invesco Ltd. raised 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 buying an additional 837,982 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in SES AI by 14.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,200,895 shares of the company's stock valued at $625,000 after buying an additional 151,420 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in SES AI in the first quarter valued at about $1,064,000. Finally, Signaturefd LLC purchased a new stake in SES AI in the first quarter valued at about $26,000. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SES shares. Wall Street Zen cut SES AI from a "hold" rating to a "sell" rating in a research note on Sunday, June 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2.00 price target on shares of SES AI in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SES AI currently has a consensus rating of "Hold" and a consensus target price of $1.50.

SES AI Stock Up 5.3%

Shares of NYSE:SES traded up $0.0560 during trading on Friday, hitting $1.1060. The stock had a trading volume of 4,431,959 shares, compared to its average volume of 7,660,241. SES AI Corporation has a 12-month low of $0.20 and a 12-month high of $2.53. The stock has a market capitalization of $404.49 million, a price-to-earnings ratio of -3.57 and a beta of 0.42. The stock has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $0.87.

SES AI (NYSE:SES - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $3.53 million during the quarter, compared to analysts' expectations of $4.33 million. SES AI has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that SES AI Corporation 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.